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MARQUETTE, H. & O. R. CO. V. UNITED STATES, 123 U. S. 722 (1887)

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Marquette, H. & O. R. Co. v. United States, 123 U.S. 722 (1887)

Marquette, Houghton and Ontonagon Railroad Company v. United States

Argued December 6, 1887

Decided December 19, 1887

123 U.S. 722


Construing the clause in the Internal Revenue Act of July 14, 1870, which imposed a tax for the year 1871 of 2 1/2 percent on all undivided profits of corporations accrued and earned and added to a surplus, contingent, or other fund, in connection with the previous internal revenue statutes, it is plain that it was the intention of Congress not to subject to that tax profits of a railroad corporation during that year which were not divided, but were used for construction.

Action at law to recover an unpaid internal revenue tax. Judgment for plaintiff. Defendant sued out this writ of error. The case is stated in the opinion of the Court.

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