Legal Opinion
Capital Preservation Fund, Inc. v. Department of Revenue
Court of Appeals of Wisconsin
Decided July 21, 1988No. 87-1303PublishedCited by 17 opinions
1Opinion of the CourtEich, J.
The Wisconsin Department of Revenue appeals from a summary judgment declaring that dividend distributions from the Capital Preservation Fund (the Fund) and the Trust for Short Term U.S. Government Securities (the Trust) are not subject to the Wisconsin income tax. The issue is whether 31 U.S.C., sec. 3124(a), which declares that "obligations of the United States Government are exempt from [State] taxation,” precludes Wisconsin from taxing the distributions insofar as they result from: (a) investments in direct obligations of the federal government; and (b) transactions under repurchase…
2Cases cited10 opinions
- Memphis Bank & Trust Co. v. GarnerSupreme Court of the United States · 1983
- American Bank & Trust Co. v. Dallas CountySupreme Court of the United States · 1983
- Smith v. DavisSupreme Court of the United States · 1944
- Rockford Life Insurance v. Illinois Department of RevenueSupreme Court of the United States · 1987
- First National Bank of Atlanta v. Bartow County Board of Tax AssessorsSupreme Court of the United States · 1985
5 more not listed; retrieve them via the Exa API.
3Cited by17 opinions
- Nebraska Department of Revenue v. LoewensteinSupreme Court of the United States · 1994
- Borg v. Department of RevenueOregon Supreme Court · 1989
- Massman Construction Co. v. Director of RevenueSupreme Court of Missouri · 1989
- STATE, DEPARTMENT OF REVENUE v. PageDistrict Court of Appeal of Florida · 1989
- Comptroller of the Treasury, Income Tax Division v. First United Bank & TrustCourt of Appeals of Maryland · 1990
12 more not listed; retrieve them via the Exa API.