United States v. Hudson - 299 U.S. 498 (1937)


U.S. Supreme Court

United States v. Hudson, 299 U.S. 498 (1937)

United States v. Hudson

No. 7

Argued November 17, 18, 1936

Decided January 11, 1937

299 U.S. 498

Syllabus

The Silver Purchase Act of June 19, 1934, imposed on transfers of any interest in silver bullion a tax of 50% of the profits over cost and allowed expenses, payable as to future transfers by attaching stamps to the memoranda of sale. Transfers made on or after May 15, 1934, and prior to the date of the Act were also subjected to the tax, payable, however, in a different way.

Held:

1. That the tax is a special income tax. P. 299 U. S. 500.

2. Congress had power to impose this tax in addition to the tax imposed on the same profits, with other gains, under the general income tax law. Id.

3. Making the tax provision retroactive for a period of 35 days, to include profits from transactions consummated while the statute was in course of enactment, was consistent with due process. Id.

82 Ct.Cls. 15; 12 F.Supp. 620; 13 F.Supp. 640, reversed.

Certiorari to review a judgment sustaining a claim against the United States for a tax refund.

Page 299 U. S. 499



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