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Pollock v. Farmers' Loan & Trust Co.

Index Pollock v. Farmers' Loan & Trust Co.

Pollock v. Farmers' Loan & Trust Company,, affirmed on rehearing,, with a ruling of 5–4, was a landmark case in which the Supreme Court of the United States ruled that the unapportioned income taxes on interest, dividends and rents imposed by the Income Tax Act of 1894 were, in effect, direct taxes, and were unconstitutional because they violated the provision that direct taxes be apportioned. [1]

49 relations: American Civil War, Apportionment (politics), Bowers v. Kerbaugh-Empire Co., Brushaber v. Union Pacific Railroad Co., CCH (company), Chief Justice of the United States, Democratic Party (United States), Direct tax, Dividend, Edward Douglass White, Flat tax, Harvard Law Review, Henry Billings Brown, Howell Edmunds Jackson, Hylton v. United States, Income, Income tax, Interest, John Marshall Harlan, Joseph Hodges Choate, Lawyers' Edition, LexisNexis, Massachusetts, Melville Fuller, National Federation of Independent Business v. Sebelius, Nebraska, Norris Brown, People's Party (United States), Populism, Profit (economics), Progressive tax, Renting, Revenue Act of 1861, Revenue Act of 1862, Sixteenth Amendment to the United States Constitution, Socialism, Socialist Labor Party of America, South Carolina v. Baker, Stanton v. Baltic Mining Co., Supreme Court of the United States, United States Congress, United States Constitution, United States Department of the Treasury, United States House of Representatives, United States Tax Court, United States v. E. C. Knight Co., Wall Street, William Jennings Bryan, Wilson–Gorman Tariff Act.

American Civil War

The American Civil War (also known by other names) was a war fought in the United States from 1861 to 1865.

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Apportionment (politics)

Apportionment is the process by which seats in a legislative body are distributed among administrative divisions entitled to representation.

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Bowers v. Kerbaugh-Empire Co.

Bowers v. Kerbaugh-Empire Co., 271 U.S. 170 (1926),, was a case in which the United States Supreme Court held that no taxable income arose from the repayment in German marks of loans that had originally been made in U.S. dollars, despite the fact that the marks had gone down in value relative to the dollar since the loan had been made.

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Brushaber v. Union Pacific Railroad Co.

Brushaber v. Union Pacific Railroad Co., 240 U.S. 1 (1916), was a landmark United States Supreme Court case in which the Court upheld the validity of a tax statute called the Revenue Act of 1913, also known as the Tariff Act, Ch.

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CCH (company)

CCH (Commerce Clearing House), a Wolters Kluwer business, is a provider of software and information services for tax, accounting and audit workers.

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Chief Justice of the United States

The Chief Justice of the United States is the chief judge of the Supreme Court of the United States and thus the head of the United States federal court system, which functions as the judicial branch of the nation's federal government.

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Democratic Party (United States)

The Democratic Party is one of the two major contemporary political parties in the United States, along with the Republican Party (nicknamed the GOP for Grand Old Party).

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Direct tax

Though the actual definitions vary between jurisdictions, in general, a direct tax is a tax imposed upon a person or property as distinct from a tax imposed upon a transaction, which is described as an indirect tax.

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Dividend

A dividend is a payment made by a corporation to its shareholders, usually as a distribution of profits.

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Edward Douglass White

Edward Douglass White Jr. (November 3, 1845 – May 19, 1921), American politician and jurist, was a United States Senator and the ninth Chief Justice of the United States.

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Flat tax

A flat tax (short for flat tax rate) is a tax system with a constant marginal rate, usually applied to individual or corporate income.

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Harvard Law Review

The Harvard Law Review is a law review published by an independent student group at Harvard Law School.

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Henry Billings Brown

Henry Billings Brown (March 2 1836 – September 4 1913) was an associate justice of the Supreme Court of the United States from 29 December 1890 to 28 May 1906.

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Howell Edmunds Jackson

Howell Edmunds Jackson (April 8, 1832 – August 8, 1895) was an American jurist and politician.

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Hylton v. United States

Hylton v. United States,, is an early United States Supreme Court case in which the Court held that a yearly tax on carriages did not violate the Article I, Section 2, Clause 3 and Article I, Section 9, Clause 3 requirements for the apportioning of direct taxes.

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Income

Income is the consumption and savings opportunity gained by an entity within a specified timeframe, which is generally expressed in monetary terms.

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Income tax

An income tax is a tax imposed on individuals or entities (taxpayers) that varies with respective income or profits (taxable income).

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Interest

Interest is payment from a borrower or deposit-taking financial institution to a lender or depositor of an amount above repayment of the principal sum (i.e., the amount borrowed), at a particular rate.

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John Marshall Harlan

John Marshall Harlan (June 1, 1833October 14, 1911) was an American lawyer and politician who served as an associate justice on the U.S. Supreme Court.

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Joseph Hodges Choate

Joseph Hodges Choate (January 24, 1832 – May 14, 1917) was an American lawyer and diplomat.

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Lawyers' Edition

The United States Supreme Court Reports, Lawyers' Edition, or Lawyers' Edition (L. Ed. and L. Ed. 2d in case citations) is an unofficial reporter of Supreme Court of the United States opinions.

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LexisNexis

LexisNexis Group is a corporation providing computer-assisted legal research as well as business research and risk management services.

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Massachusetts

Massachusetts, officially known as the Commonwealth of Massachusetts, is the most populous state in the New England region of the northeastern United States.

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Melville Fuller

Melville Weston Fuller (February 11, 1833 – July 4, 1910) was a politician, lawyer, and judge from Illinois.

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National Federation of Independent Business v. Sebelius

National Federation of Independent Business v. Sebelius,, was a landmark United States Supreme Court decision in which the Court upheld Congress' power to enact most provisions of the Patient Protection and Affordable Care Act (ACA), commonly called Obamacare, and the Health Care and Education Reconciliation Act (HCERA), including a requirement for most Americans to have health insurance by 2014.

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Nebraska

Nebraska is a state that lies in both the Great Plains and the Midwestern United States.

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Norris Brown

Norris Brown (May 2, 1863January 5, 1960) was a Senator from Nebraska.

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People's Party (United States)

The People's Party, also known as the Populist Party or the Populists, was an agrarian-populist political party in the United States.

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Populism

In politics, populism refers to a range of approaches which emphasise the role of "the people" and often juxtapose this group against "the elite".

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Profit (economics)

In economics, profit in the accounting sense of the excess of revenue over cost is the sum of two components: normal profit and economic profit.

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Progressive tax

A progressive tax is a tax in which the tax rate increases as the taxable amount increases.

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Renting

Renting, also known as hiring or letting, is an agreement where a payment is made for the temporary use of a good, service or property owned by another.

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Revenue Act of 1861

The Revenue Act of 1861, formally cited as, included the first U.S. Federal income tax statute (see). The Act, motivated by the need to fund the Civil War, imposed an income tax to be "levied, collected, and paid, upon the annual income of every person residing in the United States, whether such income is derived from any kind of property, or from any profession, trade, employment, or vocation carried on in the United States or elsewhere, or from any other source whatever " The tax imposed was a flat tax, with a rate of 3% on incomes above $800.

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Revenue Act of 1862

The Revenue Act of 1862 (July 1, 1862, Ch. 119), was a bill the United States Congress passed to help fund the American Civil War.

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Sixteenth Amendment to the United States Constitution

The Sixteenth Amendment (Amendment XVI) to the United States Constitution allows the Congress to levy an income tax without apportioning it among the states or basing it on the United States Census.

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Socialism

Socialism is a range of economic and social systems characterised by social ownership and democratic control of the means of production as well as the political theories and movements associated with them.

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Socialist Labor Party of America

The Socialist Labor Party"The name of this organization shall be Socialist Labor Party".

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South Carolina v. Baker

South Carolina v. Baker,, was a United States Supreme Court case in which the Court ruled that section 310(b)(1) of the Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA) does not violate the Tenth Amendment to the United States Constitution.

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Stanton v. Baltic Mining Co.

Stanton v. Baltic Mining Co.,, is a United States Supreme Court case.

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Supreme Court of the United States

The Supreme Court of the United States (sometimes colloquially referred to by the acronym SCOTUS) is the highest federal court of the United States.

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United States Congress

The United States Congress is the bicameral legislature of the Federal government of the United States.

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United States Constitution

The United States Constitution is the supreme law of the United States.

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United States Department of the Treasury

The Department of the Treasury (USDT) is an executive department and the treasury of the United States federal government.

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United States House of Representatives

The United States House of Representatives is the lower chamber of the United States Congress, the Senate being the upper chamber.

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United States Tax Court

The United States Tax Court (in case citations, T.C.) is a federal trial court of record established by Congress under Article I of the U.S. Constitution, section 8 of which provides (in part) that the Congress has the power to "constitute Tribunals inferior to the supreme Court".

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United States v. E. C. Knight Co.

United States v. E. C. Knight Co., also known as the "Sugar Trust Case," was a United States Supreme Court case that limited the government's power to control monopolies.

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Wall Street

Wall Street is an eight-block-long street running roughly northwest to southeast from Broadway to South Street, at the East River, in the Financial District of Lower Manhattan in New York City.

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William Jennings Bryan

William Jennings Bryan (March 19, 1860 – July 26, 1925) was an American orator and politician from Nebraska.

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Wilson–Gorman Tariff Act

The Revenue Act or Wilson-Gorman Tariff of 1894 (ch. 349, §73,, August 27, 1894) slightly reduced the United States tariff rates from the numbers set in the 1890 McKinley tariff and imposed a 2% income tax.

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Redirects here:

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References

[1] https://en.wikipedia.org/wiki/Pollock_v._Farmers'_Loan_%26_Trust_Co.

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