Section 5 Revenue Acts From 1843?1865

• Library: Tax Law 2009

The cliché that necessity is the mother of invention is particularly appropriate in the area of taxation. Thus, the first Missouri tax on intangible property, such as notes and corporate stock, arose in the wake of the financial depression of 1837. The licensing of lawyers and physicians by the state came about in 1847, not as an effort to regulate practice but to raise revenue. The earliest Missouri litigation over an allegedly unconstitutional tax was spurred by this act. Simmons v. State,12 Mo. 268...