Rulings on interstate tax issues could endanger wholesaler profits. (Supreme Court considering two cases on interstate income taxation)Marchese, Louis R
federal law deems the tips to have been wages paid by the employer for FICA tax purposes. Employers are imputed to have paid large sums of money they never handled and for which they no way of ascertaining the exact amount. The Supreme Court, inUnited States v. Fior D'Italia, 536 U.S...
His session is titled “Top 10 Significant Income/Franchise Tax Cases and What to Watch for in the Remainder of 2021.” The speakers will cover the most important income/franchise tax cases in the last twelve months and their impact on taxpayers. The session will include a discussion of ...
Banks and the implications of that analysis for future cases. Although Professor Hellwig believes that the Court correctly ascertained the plaintiff's tax burden, he suggests that the Court's use of the assignment of income doctrine was both unnecessary to the final determination of the question ...
Paul Hastings Stays Active in Lateral Market, Adds Veteran Entertainment, Tax Attorneys Law.com Two Supreme Court Cases Could Change the Tax Landscape Kiplinger's Personal Finance Attention Law Firms: Are You Ready for Meals and Entertainment as State Tax Deductions? EisnerAmper Fun fact - lawyer ...
LET'S FIRST CONSIDER APPLICABLE PROVISIONS OF THE INCOME TAX ACT, 1961 SECTION 115F- Provides for complete exemption of long-term capital gains on the transfer of foreign exchange assets in certain cases. Thus, it is provided that where, in the case of a non-resident Indian, any long- ...
In this precedent-setting decision, the Supreme Court delineated a four-way test upon which the imposition of state income taxes on out-of-state corporations could be justified. According to the high court, state taxation in such cases could be permitted only if the tax imposed wa...
The Supreme Court will have to decide some important cases dealing with invested capital. With no decisions as yet to guide us and with a vast number of disputed returns to be adjusted, it is safe to say that our real troubles with the excess profits tax are just beginning. I am ...
Supreme Court struck it down only a year after it was enacted. The justices wrote that the income tax was unconstitutional because it failed to abide by a constitutional guideline. This guideline required that any tax levied directly on people must be levied in proportion to a state's ...
Jumping to 1894, Congress passed the first peacetime income tax law, but a year later the Supreme Court declared it unconstitutional. The court said that taxes on rents and real estate income had to be divided among the states according to population, which the law did not allow. But the ...