Double Taxation in the United States

Double Taxation in the United States

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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1895 edition. Excerpt: ...if in the estate of an infant or lunatic.... But the gains of the merchant, or trader, or manufacturer, Income from Particular Businesses. The taxation of the income of certain kinds of business is very common in the United States. The usual form is the taxation of the net or gross receipts or earnings of transportation, telegraph and other companies, and the premiums of insurance companies. Sometimes these taxes are in lieu of property taxes, and in that case the presumption is that no double taxation exists. But they are often levied in addition to the property taxes, and then, from the fact that other corporations of not dissimilar character are not also taxed, it would seem that double taxation arises. But it must be borne in mind that in the case of some of these companies the property of the corporation forms a totally inadequate measure of its real ability. This is a fact with a great many corporations, but is very conspicuously so, for example, in the case of express companies.1 Gross receipts are not of the same nature as the interest of money, or the dividends of stock, or the yield of land, or rent of buildings. The gain is due to the skill of the man, rather than to the property to which he may apply it, and is an ability of which, for purposes of taxation, the gain or income is a fair measure. Still less can receipts from mere salaries or from professional employment be compared, in this respect, with dividends, or interest money, or rents, from property once taxed."--Mass. Tax Rept., 1875, pp. 51-53. 1 The recent Ohio Tax Commission used the following language: "In a modern community there are aggregations of persons, sometimes enjoying corporate franchises and sometimes not incorporated, who are the recipients of large...
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Product details

  • Paperback | 46 pages
  • 189 x 246 x 3mm | 100g
  • Miami Fl, United States
  • English
  • black & white illustrations
  • 1236585607
  • 9781236585608