Eisner, Internal Revenue Collector v. MacOmber
Supreme Court of the United States
ERROR TO THE DISTRICT COURT OP THE UNITED STATES FOR .THE SOUTHERN DISTRICT OF NEW YORK. The case is stated in the opinion. The Act of 1916 taxes gains derived from capital invested in corporate stocks, that is, shares of corporate gains or profits. It does not tax dividends per se but merely uses them to indicate the form in which such gains shall be taxed and to mark the time when the tax shall be collected.
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ERROR TO THE DISTRICT COURT OP THE UNITED STATES FOR .THE SOUTHERN DISTRICT OF NEW YORK. The case is stated in the opinion. The Act of 1916 taxes gains derived from capital invested in corporate stocks, that is, shares of corporate gains or profits. It does not tax dividends per se but merely uses them to indicate the form in which such gains shall be taxed and to mark the time when the tax shall be collected. And, in the case of stock dividends, it uses the stock issued to measure the amount of the gains. The substance of the Act of 1916 is that no corporate earnings are taxed as distributed…
1Opinion of the Court 1
252 U.S. 189
40 S.Ct. 189
64 L.Ed. 521
EISNER, Internal Revenue Collector,
v.
MACOMBER.
No. 318.
Argued April 16, 1919.
Restored to Docket for Reargument, May 19, 1919.
Reargued Oct. 17 and 20, 1919.
Decided March 8, 1920.
Mr. Assistant Attorney General Frierson, for plaintiff in error.
[Argument of Counsel from pages 190-194 intentionally omitted]
Messrs. Charles E. Hughes and George Welwood Murray, both of New York City, for defendant in error.
[Argument of Counsel from pages 194-199 intentionally omitted]
2Opinion of the Court · PitneyJustice Pitney
1
This case presents the question whether, by virtue of the Sixteenth Amendment, Congress has the…
Also in this document: Dissent.
3Cases cited42 opinions
- M'culloch v. State of MarylandSupreme Court of the United States · 1819
- Standard Oil Company of New Jersey, Appts. v. United StatesSupreme Court of the United States · 1910
- Ogden v. SaundersSupreme Court of the United States · 1827
- Martin v. Hunter's LesseeSupreme Court of the United States · 1816
- Brown v. MarylandSupreme Court of the United States · 1827
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