Collector of Revenue v. Hunt

It is my opinion that the majority, 246 La. 605, 165 So.2d 843, has committed error in approving the Collector’s calculation of an income tax deficiency of these defendant taxpayers.

The Collector’s interpretation of the pertinent provisions of the income tax statute. (LSA-R.S. 47:55(4) and LSA-R.S. 47:-241) attributes undue emphasis to form and too little to substance when, by his interpretation, he divides the federal income tax into two components — an ordinary tax and a capital gains tax. The U. S. Internal Revenue Code and the decisions which interpret that law make it clear that there is…