In 1913, the Sixteenth Amendment to the U.S. Constitution was ratified. It states: "The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several States, and without...
income tax
In 2006, Respondents Brian and Karen Wynne owned 2.4% of the stock in Maxim Healthcare Services, Inc. (“Maxim”), a national healthcare services company classified as an S corporation in Maryland. See Maryland State Comptroller of the Treasury v. Wynne...
Should a U.S. company receive U.S. tax credit for paying the United Kingdom’s windfall tax?
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FactsPetitioner, PPL Corporation ("PPL"), is an energy company headquartered in...
On January 1, 2008, United Western Bancorp, Inc. (“UWBI”), a bank holding company, entered into a Tax Allocation Agreement (“the Agreement”) with its affiliate subsidiary corporations, including its principal subsidiary, United Western Bank (“Bank”)....
Taxing power refers to the ability of a government to impose and collect taxes.
Overview General Constitutional AuthorizationIn the United States, Article I, Section 8 of the Constitution gives Congress the power to "lay and collect...