Norman v. Bradley

This case arises under the act “to provide for levying and collecting a tax on net incomes in this State, approved August 22, 1929, -which act is generally referred to as the Boykin income-tax act. The act provided that the tax levied under it for 1929 should be assessed pro rata for one fourth of that year. The controlling question in the case may be stated in a general way as, what is taxable as income for 1929 ? But, to bring it within the issues made by the pleadings and facts in this case, it is more specifically stated thus: Where taxpayers sold corporate stock in February and October,…