(Download) "Blake v. National Banks" by United States Supreme Court " Book PDF Kindle ePub Free
eBook details
- Title: Blake v. National Banks
- Author : United States Supreme Court
- Release Date : January 01, 1874
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 61 KB
Description
'The seventeenth section of the act of July §4th, 1870, repeals the 122d and other sections of the act of 1864, by providing that, after the first day of August, 1870, no further taxes shall be levied or assessed under them. It is plain, therefore, that the tax complained of by the banks could not be assessed and collected under the act of 1864, and that unless it was authorized by the act of 1870, there is no warrant anywhere for its assessment. The fifteenth section of the latter act is the only part of it for which this effect can be asserted. 'The word 'levied' in the beginning of the section, is evidently employed as convertible with assessed or imposed, so that the import of the enactment is, that interest, dividends, and surplus earnings shall be subjected to a tax of 2 1/2 per cent. for and during the year 1871. The plainly expressed meaning of the section would, therefore, seem to be, that the tax to be levied was a tax for the year 1871, and not for the whole or any part of any previous years, and that it was to be imposed upon the enumerated subjects during and within the year 1871, and not during or within any other year. Interpreting the words of the section then, according to their ordinary sense, interest falling due and dividends declared and payable within the last five months of 1870, were excluded from the operation of the tax.
 "Blake v. National Banks" by United States Supreme Court " Book PDF Kindle ePub Free){kind=link}