Publisher's Synopsis
Excerpt from United States District Court; Southern District of New York: Myrtle H. Macomber, Plaintiff, Against Mark Eisner, as Collector of United States Internal Revenue for the Third District of the State of New York, Defendant
The issue of law presented in this case is whether Congress has power to include in the amount for which an individual is liable under the Income Tax Law of 1916, the cash value of new shares which are received upon the declaration of a 'stock dividend'.
The complaint alleges that such a tax is in viola tion of Article I, Section 3, clause 3, and Article I, Section 9, clause 4, of the Constitution requiring that direct taxes be apportioned according to population, and that it is not included within the provisions of the Sixteenth Amendment permitting the taxation of incomes without apportionment.
The applicable parts of the Income Tax Law of 1916 are found in 39 Stat. 756, Ch. 463, Part I, Sec tion 1 (b)
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