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Tax law or revenue law is an area of legal study in which public or sanctioned authorities, such as federal, state and municipal governments (as in the case of the US) use a body of rules and procedures (laws) to assess and collect taxes in a legal context. The rates and merits of the various taxes, imposed by the authorities, are attained via ...
Tax Analysts is a nonprofit publisher offering the Tax Notes portfolio of products, including weekly magazines featuring commentary, daily online journals featuring news and analysis, and research tools, all focused on tax policy and administration.
The Supreme Court of the United States has heard numerous cases in the area of tax law. This is an incomplete list of those cases. ... State Tonnage Tax Cases: 79 U.S ...
Median household income and taxes State Tax Burdens 2022 % of income. State tax levels indicate both the tax burden and the services a state can afford to provide residents. States use a different combination of sales, income, excise taxes, and user fees. Some are levied directly from residents and others are levied indirectly. This table ...
The US Supreme Court held that the tax was lawful. Holmes J dissented on reasoning, not result, joined by Brandeis J.. The plaintiff's reliance is upon Allgeyer v.Louisiana, 165 U. S. 578, 17 S. Ct. 427, 41 L. Ed. 832, in which it was held that a fine could not be imposed by the State for sending a notice similar to the present to an insurance company out of the State.
In modern public-finance literature, a whole economy of the tax system has developed (tax system economics), which can be defined as "the overall management of public revenue of a state or integration grouping's public revenues and expenditures in order to shape smart economic policies that stimulates economic growth and development and ...
The Taxpayers' Bill of Rights Act (20 ILCS 2520), [29] is a provision of Illinois state law. [30] It is broken up into seven sections throughout the act. Section 1 is stating the name of the act. Section 2 is Legislative Declaration and states "The General Assembly further finds that the Illinois tax system is based largely on self-assessment."
In the tax law of the United States the claim of right doctrine causes a taxpayer to recognize income if they receive the income even though they do not have a fixed right to the income. For the income to qualify as being received there must be a receipt of cash or property that ordinarily constitutes income rather than loans or gifts or ...