Green & Milam v. State Revenue Commission

Jenkins, Justice.

With respect to the ruling in division 2 of the syllabus, Black on Income and Other Federal Taxes (3d ed.), §56, has this to say: “On general principles and irrespective of explicit constitutional limitations, a statute imposing an income tax may subject to taxation the income of the citizen for the whole of the current year in which the statute is passed, that is, not only so much of the income as accrued from the date of the enactment of the law to the end of the year, but also that portion which accrued or was earned from the beginning of the year to the date of the law.…