An income tax is not levied upon property, funds, or profits, but - TopicsExpress



          

An income tax is not levied upon property, funds, or profits, but upon the right of an individual or corporation to receive income or profits (status). A tax on incomes is sometimes said to be an excise tax and not a tax on property, Hattlesburg Grocery Co., Robertson, 126 Miss. 34, 88 So. 4,5, 25 A.L.R. 748; nor on buisness, but on a tax on the proceeds arising therefrom, Young v. Illinois Athletic Club, 310 Ill., 75, 141 N.E. 369. 371, 30 A.L.R. 985. but in other cases an excise tax.
Posted on: Sat, 10 Jan 2015 17:09:08 +0000

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