SOUTH WESTERN FEDERAL TAXATION CH.1

SOUTH WESTERN FEDERAL TAXATION CH. 1
FirstUIncome UTax U-UCORRECTUANSWER-MassachusettsUBayUColony,U1634



FirstUAdaptationU-UCORRECTUANSWER-Federal UgovernmentUadoptedUincome UtaxUinU1861



FirstUincome Utax UindividualsU-UCORRECTUANSWER-
federal Uincome UtaxUonUindividualsUwasUenactedUinU1894



U,S,UConstitutionUtax U-UCORRECTUANSWER-
"NoUCapitation,UorUotherUdirect,UTax Ushall UbeUlaid,UunlessUinUProportionUtoUthe UCensusUorUEnumerationUh
ereinUbefore UdirectedUtoUbeUtaken."



PollockUv.UFarmers'ULoanUandUTrustUCo.U-UCORRECTUANSWER-
U.S.USupreme UCourtUfoundUthatUtaxesUonUtheUincomeUof UrealUandUpersonal UpropetyUwere Uthe UlegalUequiv
alentUofUaUtax UonUthe UpropertyUinvolvedUand,Utherefore,UrequiredUapportionment.



corporate Uincome Utax U-UCORRECTUANSWER-
Federal Ucorporate UincomeUtax,UenactedUbyUCongressUinU1909,UtreatedUasUanUexciseUtax,UalsoUlikeUaUfranch
ise Utax



16thUAmendmentU-UCORRECTUANSWER-
inU1913UsanctionedUbothUthe UFederalUindividualUandUcorporateUincome UtaxesUandUneutralizedUtheUcontin
uingUeffectUofUtheUPollockUdecision.



CurrentULawU- UCORRECTUANSWER-entitledUthe UInternalURevenueUCodeUofU1986



FirstU1040U-UCORRECTUANSWER-
Revenue UActUofU1913,Udue UonUMarchU1,U1914,Upersonal UexemptionsUofU$3,000UandUmarriedUofU$4,000,Ur
atesUrangedUfromU2UpercentUtoU6UpercentUonUincomeUinUexcessUofU,500,000,UtodayUcomparedUtoU35%Uwhi
chUappliesUonUtaxableUincomeUoverU$357,700