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Judgment Search Results Home > Cases Phrase: income tax act Court: us supreme court Page 1 of about 13,116 results (0.121 seconds)

Apr 20 1970 (FN)

Woodward Vs. Commissioner

Court : US Supreme Court

..... it at its net asset value on a certain date were held deductible under the predecessor of 212. [ footnote 2 ] see iib of the income tax act of 1913, 38 stat. 167. [ footnote 3 ] the two sections are in pari materia with respect to the capital-ordinary distinction, differing only ..... . more difficult questions arise with respect to another class of capital expenditures, those incurred in "defending or perfecting title to property." treas.reg. on income tax 1.263(a)-2(c). in one sense, any lawsuit brought against a taxpayer may affect his title to property -- money or other assets subject ..... . of . . . property having a useful life substantially beyond the taxable year" is a capital expenditure. page 397 u. s. 576 treas.reg. on income tax 1.263(a)-2(a). under this general provision, the courts have held that legal, brokerage, accounting, and similar costs incurred in the acquisition or disposition of ..... such treatment is the capitalization of brokerage fees for the sale or purchase of securities, as explicitly provided by a longstanding treasury regulation, treas.reg. on income tax 1.263(a)-2(e), and as approved by this court in helvering v. winmill, 305 u. s. 79 (1938), and spreckels v. ..... appeals for the seventh circuit in united states v. hilton hotels corp., supra. [ footnote 1 ] we affirm. since the inception of the present federal income tax in 1913, capital expenditures have not been deductible. [ footnote 2 ] see internal revenue code of 1954, 263. such expenditures are added to the .....

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Apr 21 1992 (FN)

Barker Vs. Kansas

Court : US Supreme Court

..... 489 u. s. 803 (1989), which invalidated under 111 the michigan income tax imposed on federal civil service re- 1 as the kansas supreme court explained, to arrive at the adjusted gross income of a taxpayer under the kansas income tax act, the starting point is the adjusted gross income under the federal internal revenue code, which includes retirement benefits received by ..... retired military officials and state and local government retirees. 249 kan. 186, 190-191,815 p. 2d 46, 49-50 (1991). as relevant for present purposes, in calculating kansas' adjusted gross income, the ..... would be inconsistent with the notion that military retirement pay should be treated as indistinguishable from compensation for reduced current services. 604 furthermore, both federal and kansas income tax law treat military retirement pay as deferred compensation for the purpose of determining deductibility of contributions to an individual retirement account (ira). for federal purposes, an ..... state and local government retirement benefits receive deferred compensation." 249 kan., at 205, 815 p. 2d, at 58. moreover, we note that the state applies its income tax to other federal retirees who contributed to their benefits, such as members of the central intelligence agency, foreign service, bankruptcy judges, and united states magistrates. see ibid. .....

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Apr 15 2008 (FN)

Meadwestvaco Corp. Vs. Illinois Dept. of Revenue

Court : US Supreme Court

..... gain, which mead used to repurchase stock, retire debt, and pay taxes. mead did not report any of this gain as business income on its illinois tax returns for 1994. it took the position that the gain qualified as nonbusiness income that should be allocated to mead s domiciliary state, ohio, under illinois income tax act (ita). see ill. comp. stat., ch. 35, 5/ ..... 303(a) (west 1994). the state audited mead s returns and issued a notice of deficiency. according to the state, the ita required mead to treat the capital gain as business income subject to apportionment by illinois.[ footnote 2 ] the ..... ). this language mirrors the definition of business income in the uniform division of income for tax purposes act (uditpa). see uditpa 1(a) (2002); see also 9 (subjecting [a]ll business income to apportionment). in 2004, the illinois general assembly amended the definition of business income to all income that may be treated as apportionable business income under the constitution of the united states. ..... pub. act 93 840, art. 25, 25 5 (codified .....

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Jun 03 1918 (FN)

United States Glue Co. Vs. Oak Creek

Court : US Supreme Court

..... for the use of the state a part of every dollar received. on the other hand, in peck & co. v. lowe ante, 247 u. s. 165 , we held that the income tax act of october 3, 1913, c. 16, 2, 38 stat. 166, 172, when carried into effect by imposing an assessment upon the entire net ..... wis. 211. and this is the sole question presented for our consideration. the act, which was passed under the authority of an amendment to the state constitution ( income tax cases, 148 wis. 456), imposes a tax upon incomes received during the year ending december 31, 1911, and annually thereafter; defines the term "income" as including (a) rent of real estate; (b) interest derived from money loaned ..... the act adopted by the supreme court of the state in this and other ..... depreciation, losses not compensated for by insurance or otherwise, taxes, etc. these need not be further mentioned beyond saying that the intent and necessary effect of the act is to tax not gross receipts, but net income; that, from the stipulated facts, it appears that the tax in question was imposed upon plaintiff's net income, and that this is in accord with the construction of .....

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Apr 27 1925 (FN)

irwIn Vs. Gavit

Court : US Supreme Court

..... . see 275 f. 643. page 268 u. s. 165 mr. justice holmes delivered the opinion of the court. this is a suit to recover taxes and penalties exacted by the collector under the income tax act of october 3, 1913, c. 16, section ii, a, subdivisions 1 and 2; b, d, and page 268 u. s. 166 e, 38 stat. 114, 166 et seq ..... . held that the sums paid the plaintiff were taxable income within the meaning of the constitution, and of the income tax act of october 3, 1913, which taxed "the entire net income arising or accruing . . . to every citizen of the united states" and defined net income as "gains or profits and income derived from any source whatever, including the income from but not the value of property acquired by ..... gift, bequest, devise, or descent." p. 268 u. s. 166 . 2. the provision of the above act exempting ..... value of property acquired by gift, bequest, devise or descent. page 268 u. s. 167 by d, trustees are to make 'return of the net income of the person for whom they act, subject to this tax,' and by d, trustees and others having the control or payment of fixed or determinable gains, etc., of another person who are required to render a .....

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Nov 30 1931 (FN)

Hoeper Vs. Tax Commission of Wisconsin

Court : US Supreme Court

..... natural persons and corporations at different rates. it is comprehensive in its provisions regarding gross income and allowable deductions and exemptions, and is in most respects the analogue of the federal income tax acts in force since 1916. it is obvious that the act does not purport to regulate the status or relationships of any person, natural or artificial. arbitrary and discriminatory provisions contained ..... of a family, the income of the wife and the income of each child under eighteen years of age shall be added to that of the husband ..... computing taxes and the amount of taxes payable by persons residing together as members ..... shown by separate returns, treating the aggregate as his income. the amount so ascertained and assessed exceeded the sum of the taxes which would have been due had their taxable incomes been separately assessed. [ footnote 1 ] page 284 u. s. 213 the authority for the assessor's procedure is found in the following sections of the act: section 71.05(2)(d): ". . . in .....

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Dec 16 1940 (FN)

WisconsIn Vs. J. C. Penney Co.

Court : US Supreme Court

..... has, of course, power to impose such a tax. united states glue co. v. oak creek, 247 u. s. 321 ; underwood typewriter co. v. chamberlain, 254 u. s. 113 . "for ..... . inasmuch as important issues affecting the exertion of the taxing power of the states are involved, we brought this and its companion cases here. 310 u.s. 618-619. for many years, corporations chartered by other states but permitted to carry on business in wisconsin have been subject to a general corporate income tax act on earnings attributable to their wisconsin activities. the state ..... this is not a fair exposition of the law, but that, on the contrary, and in the teeth of the known facts, what wisconsin did was to lay a supplementary income tax upon foreign corporations. this is simply to take the name of a well understood concept and assign that name as a label to something which in ordinary understanding never fell ..... the privilege of declaring and receiving dividends, out of income derived from property located and business transacted in this state, there is hereby imposed a tax equal to two and one-half percentum of the amount of such dividends declared and paid by all corporations (foreign and local) after the passage and publication of this act and prior to july 1, 1937. such .....

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May 15 1944 (FN)

international Harvester Vs. Department of Treasury

Court : US Supreme Court

..... n.e.2d 150, affirmed. appeal from a judgment sustaining as to certain transactions of the appellants a state tax on gross receipts. mr. justice douglas delivered the opinion of the court. this case raises questions concerning the constitutionality of the indiana gross income tax act of 1933 (l.1933, p. 388, burns' ind.stats.ann. 64-2601) as construed and applied to certain ..... business transactions of appellant companies. the suit was brought by appellants to recover gross income taxes paid to indiana during the years 1935 and 1936. the indiana supreme court sustained ..... u. s. 506 . [ footnote 4 ] sec. 2 of the act provided in part: "there is hereby imposed a tax, measured by the amount or volume of gross income, and in the amount to be determined by the application of rates on such gross income as hereinafter provided. such tax shall be levied upon the entire gross income of all residents of the indiana, and upon the ..... within this state, and shall be in addition to all other taxes now or hereafter imposed with respect to particular occupations and/or activities." the language of this section was recast by l.1937, c. 117, 2, p. 611. sec. 6(a) of the act exempted "so much of such gross income as is derived from business conducted in commerce between this state .....

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Mar 24 1952 (FN)

RutkIn Vs. United States

Court : US Supreme Court

..... 8 ] the application of page 343 u. s. 138 this section to unlawful gains is obvious from its legislative history. section ii, subd. b of the income tax act of 1913 provided that "the net income of a taxable person shall include gains, profits, and income . . . from . . . the transaction of any lawful business carried on for gain or profit, or gains or profits and ..... change in the court's personnel. i think that our former interpretation was right, and do not believe that the government is suffering because of a failure to collect income taxes from embezzlers and extortioners. indeed, further considerations strengthen my support of our wilcox holding. i fully agree that earnings from businesses such as gambling and bootlegging are subject ..... to the income tax law even though these earnings are derived from illegal transactions. united states v. sullivan, 274 u. s. 259 . the majority seems to think that the wilcox case ..... under the sixteenth amendment is unquestionable. the broad language of 22(a) supports the declarations of this court that congress, in enacting that section, exercised its full power to tax income. [ footnote 11 ] we therefore conclude that 22(a) reaches these receipts. we have considered the other contentions of petitioner, but find them without merit sufficient to justify a .....

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Oct 14 1958 (FN)

Northwestern Cement Co. Vs. Minnesota

Court : US Supreme Court

..... & co. v. lowe, 247 u. s. 165 , pointed the way." what way did it point? there, the 1913 federal income tax act, imposing a tax upon the "entire net income arising or accruing from all sources during the preceding calendar years," was applied by the federal government to the whole net ..... instance of a state charging for the use of its highways. the court in memphis natural gas co. v. beeler, supra, upheld a net income tax imposed by the state of tennessee on revenues earned by the memphis gas company from shipping gas into the state and selling it, together with ..... in exchange for the chanceful use of what books they may have had on hand for their sales activities. rather, it recognized that the income taxes arose from a purely interstate operation. "in relying on the foregoing cases for the proposition that a foreign corporation engaged within a state solely ..... appellant for loss or damage in any shipments made by it, informing the company of the nature thereof and requesting instructions concerning the same. no income tax returns were filed with the state by the appellant. the assessments sued upon, aggregating some $102,000, with penalties and interest, were made by ..... . -- northwestern states portland cement co. v. minnesota this is an appeal from judgments of minnesota's courts upholding the assessment by the state of income taxes for the years 1933 through 1948 against appellant, an iowa corporation engaged in the manufacture and sale of cement at its plant in mason city, iowa .....

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