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Internal Revenue Bulletin; Cumulative Bulletin

Internal Revenue Bulletin; Cumulative Bulletin


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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1922 edition. Excerpt: ...the nature and legal incidents of these associations, most of which were made before the passage of this act of 1916, or with the effect of this legislation upon their powers and liabilities--except so far as pertains to our single problem of determining whether these associations are liable to Federal taxation under the Revenue Acts, supra. We intimate no opinion on any other question. But when a Massachusetts statute has described such organizations as associations, and bus put their liability to ordinary creditors apparently on the same basis a- that of corporations, Wp have no hesitation in reaching the conclusion that they have now been given a statutory basis as quasi corporate, and that they are associations within the meaning of the Federal statutes, as well as under the Massachusetts statutes. We can not hold Massachusetts associa 34024"--23 22 tions, liable under Massachusetts statutes to ordinary creditors as though corporations, not liable under Federal statutes to taxation imposed generally on corporations, joint-stock companies and associations. It may be argued that these statutes are distinguished from corporation acts iu that their chief iunctions are to regulate or restrict, whereas corporation acts also empower. Technically, that may be so. But the powers of these voluntary associations are in many respects greater, aud the regulations' and restrictions less, thiin in the case of corporations. Broadly speaking, their promoters select and define such powers and provide such limitations of liability as they desire. Cf. Husgcy v. Arnold, supra. If and in so far, therefore, as the tax in question is directed at "the privilege" or power of doing business through large organizations--and particularly at...


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Product Details
  • ISBN-13: 9781234250577
  • Publisher: Rarebooksclub.com
  • Publisher Imprint: Rarebooksclub.com
  • Height: 246 mm
  • No of Pages: 936
  • Spine Width: 47 mm
  • Width: 189 mm
  • ISBN-10: 1234250578
  • Publisher Date: 16 Jan 2013
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 1637 gr


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