Bowers v. Kerbaugh-Empire Co.
| Bowers v. Kerbaugh-Empire Co. |
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Argued January 25, 1926
Decided May 3, 1926 |
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| Full case name |
Bowers, Collector of Internal Revenue v. Kerbaugh-Empire Company |
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| Citations |
271 U.S. 170 (more) 46 S. Ct. 449; 70 L. Ed. 886; 1926 U.S. LEXIS 615; 1 U.S. Tax Cas. (CCH) P174; 5 A.F.T.R. (P-H) 6014; 1926 P.H. P1865 |
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| Prior history |
Error to the United States District Court for the Southern District of New York |
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| Holding |
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No taxable income arose from the repayment in German marks of loans that had originally been made in U.S. dollars, despite the fact that the marks had gone down in value relative to the dollar since the loan had been made. |
| Court membership |
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| Case opinions |
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| Majority |
Butler, joined by Taft, Holmes, Van Devanter, McReynolds, Sutherland, Sanford, Stone |
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| Concurrence |
Brandeis |
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| Laws applied |
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U.S. Const. |
Bowers v. Kerbaugh-Empire Co., 271 U.S. 170 (1926), was a case in which the United States Supreme Court held that no taxable income arose from the repayment in German marks of loans that had originally been made in U.S. dollars, despite the fact that the marks had gone down in value relative to the dollar since the loan had been made.
This decision was narrowed by the court six years later in United States v. Kirby Lumber Co..
See also
External links
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Wikisource has original text related to this article:
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- ^ Text of Bowers v. Kerbaugh-Empire Co., 271 U.S. 170 (1926) is available from: Findlaw Justia
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| | Scope |
- Brushaber v. Union Pacific Railroad (1916)
- Stanton v. Baltic Mining Company (1916)
- Tyee Realty Co. v. Anderson (1916)
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| | Income | |
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| | Taxable corporate dividends |
- Lynch v. Turrish (1918)
- Southern Pacific Co. v. Lowe (1918)
- Lynch v. Hornby (1918)
- Peabody v. Eisner (1918)
- Eisner v. Macomber (1920)
- United States v. Phellis (1921)
- Rockefeller v. United States (1921)
- Merchants' Loan & Trust v. Smietanka (1921)
- Miles v. Safe Deposit Co. (1922)
- Cullinan v. Walker (1923)
- Weiss v. Stearn (1924)
- Marr v. United States (1925)
- Koshland v. Helvering (1936)
- Helvering v. Gowran (1937)
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| | Taxable corporate earnings |
- Edwards v. Cuba Railroad (1925)
- Burk-Waggoner Assoc. v. Hopkins (1925)
- Texas & Pacific Railway Co. v. United States (1932)
- Continental Tie & Lumber Co. v. United States (1932)
- Helvering v. Mitchell (1938)
- Helvering v. National Grocery (1938)
- Helvering v. Northwest Steel Mills (1940)
- Crane-Johnson Co. v. Helvering (1940)
- Commissioner v. Glenshaw Glass Co. (1955)
- General American Investors Co. v. Commissioner (1955)
- Commissioner v. Gillette Motor Co. (1960)
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| | Taxable gains | |
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| | Unlawful income |
- United States v. Sullivan (1927)
- Rutkin v. United States (1952)
- Commissioner v. Sullivan (1958)
- James v. United States (1961)
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| | Deductions and exemptions |
- Brushaber v. Union Pacific Railroad (1915)
- Burnet v. Sanford & Brooks Co. (1931)
- McLaughlin v. Alliance Ins. Co. (1932)
- Helvering v. Independent Life Ins. Co. (1934)
- Helvering v. Winmill (1938)
- Millinery Corp. v. Commissioner (1956)
- Tank Truck Rentals v. Commissioner (1958)
- Hoover Express Co. v. United States (1958)
- Cammarano v. United States (1959)
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| | Diminution of loss | |
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