POWER OF TAXATION

Jun 21st, 2015
Studypool Tutor
Alcorn State University
Course: general
Price: $20 USD

Tutor description

TAXATION – power by which the sovereign through its law-making body raises revenue to defray the necessary expenses of government from among those who in some measure are privileged to enjoy its benefits and must bear its burdens. Two Fold Nature of the Power of Taxation 1. It is an inherent attribute of sovereignty 2. It is legislative in character

Word Count: 56571
Showing Page: 1/127
TAXATION LAWI. General Principlespower of taxationTAXATION power by which the sovereign through its law-making body raises revenue to defray the necessary expenses of government from among those who in some measure are privileged to enjoy its benefits and must bear its burdens.Two Fold Nature of the Power of Taxation1. It is an inherent attribute of sovereignty2. It is legislative in characterExtent of Taxing PowerSubject to constitutional and inherent restrictions, the power of taxation is regarded as comprehensive, unlimited, plenary and supreme.Scope of Legislative Taxing Power1. Amount or rate of tax2. Apportionment of the tax3. Kind of tax4. Method of collection5. Purpose/s of its levy, provided it is for public purpose6. Subject to be taxed, provided it is within its jurisdiction7. Situs of taxationTAXES enforced proportional contributions from the persons and property levied by the law-making body of the State by virtue of its sovereignty in support of government and for public needs.Characteristics of Taxes1. forced charge;2. pecuniary burden payable in money;3. levied by the legislature;4. assessed with some reasonable rule of apportionment; (see theoretical justice)5. imposed by the State within its jurisdiction; 6. levied for a public purpose.Requisites of A Valid Tax1. should be for a public purpose2. the rule of taxation shall be uniform3. that either the person or property taxed be within the jurisdictio

Review from student

Studypool Student
" Excellent work as always thanks so much "
Ask your homework questions. Receive quality answers!

Type your question here (or upload an image)

1819 tutors are online

Brown University





1271 Tutors

California Institute of Technology




2131 Tutors

Carnegie Mellon University




982 Tutors

Columbia University





1256 Tutors

Dartmouth University





2113 Tutors

Emory University





2279 Tutors

Harvard University





599 Tutors

Massachusetts Institute of Technology



2319 Tutors

New York University





1645 Tutors

Notre Dam University





1911 Tutors

Oklahoma University





2122 Tutors

Pennsylvania State University





932 Tutors

Princeton University





1211 Tutors

Stanford University





983 Tutors

University of California





1282 Tutors

Oxford University





123 Tutors

Yale University





2325 Tutors