07-05-2024, 01:16 PM
Final paragraph of Moore vs US “
(d) The Court’s holding is narrow and limited to entities treated as pass-throughs. Nothing in this opinion should be read to authorize any hypothetical congressional effort to tax both an entity and its shareholders or partners on the same undistributed income realized by the entity. Nor does this decision attempt to resolve the parties’ disagreement over whether realization is a constitutional requirement for an income tax.”
“Notwithstanding this precedent, the Government asserts its power to tax without apportion- ment all economic gains, including appreciation in property value. The Court does not address this issue.“ Any Coney Barrett concurring opinion
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