Marquette, Houghton, & Ontonagon Railroad v. United States

Citations

• 123 U.S. 722
• 8 S. Ct. 319
• 31 L. Ed. 302
• 1887 U.S. LEXIS 2210
• 3 A.F.T.R. (P-H) 2508

Syllabus

<p>Error to The Circuit Court of The United States for The Western District of Michigan.</p> <p>Construing the clause in the internal revenue act of July 14, 1870, which imposed a tax for the year 1871 of 2£ per cent on all undivided profits of corporations accrued and earned and added to a surplus, contingent, or other fund, in connection with the previous internal revenue statutes, it is plain that it was the intention of Congress not to subject to that tax profits of a railroad corporation during that year, which were not divided, but were used for construction. .</p>