Loring v. City of Beverly
Massachusetts Supreme Judicial Court
Contract against the city of Beverly to recover the amount of a tax paid under protest by the plaintiff as the trustee under the will of Caleb William Loring, late of Beverly, on a deposit of $1,200 in the Merchants National Bank of Boston, held by the plaintiff as such trustee under the circumstances stated in the opinion and afterwards distributed by him as income to the beneficiaries of the trust.
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Contract against the city of Beverly to recover the amount of a tax paid under protest by the plaintiff as the trustee under the will of Caleb William Loring, late of Beverly, on a deposit of $1,200 in the Merchants National Bank of Boston, held by the plaintiff as such trustee under the circumstances stated in the opinion and afterwards distributed by him as income to the beneficiaries of the trust. Writ dated November 13, 1914. In the Superior Court the case was submitted upon an agreed statement of facts to Quinn, J., who found for and ordered judgment for the defendant. From the judgment…
1Opinion of the CourtRugg, C. J.
The plaintiff as trustee under a will holds, as a part of the capital of the trust, shares of stock in Massachusetts corporations, the income of which is payable to residents of Beverly. On April 1, 1914, he had on deposit in a national bank *332$1,200 derived from dividends from these shares of stock. This income was not added to the principal, but, as required by the will, was paid to the beneficiaries shortly after April 1. The question is, whether this deposit was subject to taxation.
Property of this class plainly is subject to taxation by the general law. It is included within the…
2Cases cited10 opinions
- Brown v. MarylandSupreme Court of the United States · 1827
- Tennessee v. WhitworthSupreme Court of the United States · 1886
- Kelley v. RhoadsSupreme Court of the United States · 1903
- Hawley v. City of MaldenSupreme Court of the United States · 1914
- New Orleans v. HoustonSupreme Court of the United States · 1886
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