Hale v. State Bd. of Assessment and Review

302 U.S. 95 (1937)

HALE ET AL.

v.

STATE BOARD OF ASSESSMENT AND REVIEW.

No. 16.

Supreme Court of United States.

Argued October 18, 19, 1937.

Decided November 8, 1937.

APPEAL FROM THE SUPREME COURT OF IOWA.

Messrs. Alan Loth and William L. Hassett, with whom Mr. Denis M. Kelleher was on the brief, for appellants.

Mr. Clair E. Hamilton, with whom Mr. Leon W. Powers was on the brief, for appellee.

The question is whether interest upon bonds of the State of Iowa or its political subdivisions may be included in the assessment of a tax on the net income of the owners without detracting from earlier exemptions…