CHANROBLES VIRTUAL LAW LIBRARY
US LAWS, STATUTES and CODES : Chan Robles Virtual Law Library USA Supreme Court Decisions | Resolutions : Chan Robles Virtual Law Library

ChanRobles™ Virtual Law Library™ | chanrobles.com™   
Main Index Repository of Laws, Statutes and Codes Latest Philippine Supreme Court Decisions Chan Robles Virtual Law Library Latest Legal Updates Philippine Legal Resources Significant Philippine Legal Resources Worldwide Legal Resources Philippine Supreme Court Decisions United States Legal Resources United States Supreme Court Jurisprudence ChanRobles LawTube - Social Network

ChanRobles Internet Bar Review : www.chanroblesbar.com DebtKollect Company, Inc. - Debt Collection Firm Intellectual Property Division - Chan Robles Law Firm

Philippine Supreme Court DecisionsChanRobles On-Line Bar Review

google search for chanrobles.comSearch for www.chanrobles.com


KLEIN V. BOARD OF TAX SUPERVISORS, 282 U. S. 19 (1930)

Subscribe to Cases that cite 282 U. S. 19 RSS feed for this section

U.S. Supreme Court

Klein v. Board of Tax Supervisors, 282 U.S. 19 (1930)

Klein v. Board of Tax Supervisors of Jefferson County, Kentucky

No. 11

Argued October 29, 30, 1930

Decided November 24, 1930

282 U.S. 19

Syllabus

1. In Kentucky, corporate shares are not taxed to their owner if at least 75% of the total property of the corporation is taxable in Kentucky and the corporation pays the taxes thereon; but if less than 75% of the corporation's property is taxable in Kentucky, the shareholder is taxed upon the full value of his shares. Held that this classification is not unreasonable, and does not deny the equal protection of the law to shareholders who are taxed. P. 282 U. S. 22.

2. The property of shareholders in their shares, and the property of the corporation, are distinct property interests. A state may tax the corporation and also tax the shareholders, but is under no constitutional obligation, taxing the one, to tax the other also. P. 282 U. S. 23.

3. To tax a shareholder upon the full value of his share when a part only of the corporation's property is within the state is not to tax property outside of the jurisdiction of the state. P. 282 U. S. 24.

4. If a corporation is a fiction, it is a fiction created by law with intent that it shall be acted on as if true. The corporation is a person, and its ownership is a nonconductor that makes it impossible to attribute an interest in it property to it members. Id.

5. The Fourteenth Amendment does not require that land and stock in corporation be taxed at the same rate or by the same tests of value. Id.

230 Ky. 182 affirmed.

Appeal from a judgment of the Court of Appeals of Kentucky which affirmed a judgment sustaining on appeal an assessment made by a county board of tax supervisors. chanroblesvirtualawlibrary

Page 282 U. S. 22





Back
ChanRobles™ LawTube

google search for chanrobles.com Search for www.chanrobles.com


Supreme Court Decisions Philippine Supreme Court DecisionsUS Supreme Court Decisions



www.chanrobles.us




QUICK SEARCH

cralaw

Browse By ->> Volume


cralaw

Browse By ->> Year


cralaw

  Copyright © ChanRobles Publishing Company | Disclaimer | E-mail Restrictions
ChanRobles™ Virtual Law Library | chanrobles.com™
 
RED