Towne v. Eisner
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Towne v. Eisner | |||||
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Argued December 12, 1917 Decided January 7, 1918 |
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Full case name | Towne v. Eisner, Collector of United States Internal Revenue for the Third District of the State of New York | ||||
Citations | 245 U.S. 418 (more)
38 S. Ct. 158; 62 L. Ed. 372; 1918 U.S. LEXIS 2143; 1 U.S. Tax Cas. (CCH) P14; 3 A.F.T.R. (P-H) 2959
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Court membership | |||||
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Case opinions | |||||
Majority | Holmes, joined by White, Day, Van Devanter, Pitney, McReynolds, Brandeis, Clarke | ||||
Concurrence | McKenna |
Towne v. Eisner, 245 U.S. 418 (1918), is a United States Supreme Court case in which the Court held that "a stock dividend based on accumulated profits was not 'income' within the true intent of the statute." Congress passed a new law in reaction to Towne v. Eisner, and as a result the case was soon overturned by the Supreme Court in Eisner v. Macomber.
External links
- Towne v Eisner, 245 U.S. 418 (1918).
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- United States Supreme Court cases
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- United States taxation and revenue case law
- Dividends
- Overruled United States Supreme Court decisions
- 1918 in United States case law
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