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A taxpayer who is normally taxable only on the receipt of interest payments cannot escape taxation by giving away his right to such income. Furthermore, when assigning income from property to another person (particularly a family member) in the form of a gift, the courts will usually see it as a way to avoid tax and thus consider it “fruit.”
Gregory v. Helvering, 293 U.S. 465 (1935), was a landmark decision by the United States Supreme Court concerned with U.S. income tax law. [1] The case is cited as part of the basis for two legal doctrines: the business purpose doctrine and the doctrine of substance over form.
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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 ...
Cesarini v. United States, 296 F. Supp. 3 (N.D. Ohio 1969), [1] is a historic case decided by the U.S. District Court for the Northern District of Ohio, where the court ruled that treasure trove property is included in gross income for the tax year when it was discovered.
Ohio House Bill 140 calls for ballot language to be written in a way that would tell voters what levies would cost the owner of a home valued at $100,000 and how much the amount the tax would ...
The Ohio Department of Taxation is the administrative department of the Ohio state government [1] responsible for collection and administration of most state taxes, several local taxes and the oversight of real property taxation.
Several theories of taxation exist in public economics. Governments at all levels (national, regional and local) need to raise revenue from a variety of sources to finance public-sector expenditures .