Towne v. Eisner
Encyclopedia
Towne v Eisner is an early United States income taxation case before the Supreme Court. It held that:
Congress passed a new law in reaction to Towne v Eisner, and as a result the case was soon overturned by the Supreme Court in Eisner v Macomber.
- A stock dividend based on accumulated profits was not "income" within the true intent of the statute
Congress passed a new law in reaction to Towne v Eisner, and as a result the case was soon overturned by the Supreme Court in Eisner v Macomber.