Rebate

“ The measure of damages was the pecuniary loss inflicted on the plaintiff as the result of the rebate paid. Those damages might be the same as the rebate, or less than the rebate, or many times greater than the rebate ”

“ The men who have found in the rebate the secret of business success—and there are more of them than the public guesses—have only extended a fiercer hand to the results all were aiming at. They have used the smokeless rebate because it was the best gun. ”

“ CLARIFICATION.—Notwithstanding clause (i) , in the case of a rebate period and a covered outpatient drug that is a selected drug (as defined in section 1192 (c) ) during such rebate period, any reduction in price paid during the rebate period to the manufacturer for the drug by a wholesaler or retail community pharmacy described in subparagraph (A) by reason of application of part E of title XI shall be included in the average manufacturer price for the covered outpatient drug.”. ”

“ On the other hand, if a man wishes to allow a rebate on the just price in order that he may have his money sooner, he is not guilty of the sin of usury.' [1] If, however, the seller, by giving credit, suffered any damage, he was entitled to be recompensed ”

“ Ct. 759, it was ruled that where a statute declares that there shall be a rebate or drawback of a tax under certain circumstances, the amount to be determined under regulations prescribed by the secretary of the treasury, the inaction of the secretary is immaterial, and the drawback must be paid, whether ascertained under the secretary's regulations or not, because the right to the drawback depends on the statute, and not on the secretary's regulations, which relate merely to the ascertainment of the amount. ”

“ Similarly, a claim for the repayment of tax paid by any person entitled to an exemption or rebate may be made within three years from the end of the year of assessment to which the claim applies; for instance, a claim in respect to the year beginning April 6, 1902, and ending April 5, 1903, would have to be made by April 5, 1906. ”

“ A rebate in icing charges, or in mileage, or in a division of the rate for refrigerating charges is just as pernicious as a rebate in any other way. No lower rate should apply on goods imported than actually obtains on domestic goods from the American seaboard to destination except in cases where water competition is the controlling influence. ”

“ The man who gets or accepts a rebate is taking a risk. ‘Well,’ he argues, ‘so is the man who buys wheat or stocks or undeveloped real estate of problematical future value.’ Quite right; but when you speculate you want to be sure that your probable or possible profits bear a fair proportion to the risk and your possible losses. It’s all right to make a secured loan of one thousand dollars at five per cent., but when you put your thousand into a scheme where there is a chance of losing every cent of it, you also 157 want a chance of making a good deal more than the legal rate of interest. ”

“ If you will take the trouble to appoint a committee of producers to investigate, we will show that the contracts with the railroads are as favourable to the producing as to any other interests; that the much-denounced rebate will enhance the price of oil at the wells, and that our entire plan in operation and effect will promote every legitimate American interest in the oil trade.
You patiently test a well before deciding upon its merits, like rational men. ”

“ If you won't withdraw the preferentials given to the corporations, you must do the other thing. Post your legal notice of a reduction of the rates on the commodities upon which you are now allowing rebates, and I'll fight straight through on the line I've been taking all along. ”

“ But after the receiver has performed all obligations due the public and every member of it—that is to say, after carrying passengers and freight offered, for a reasonable compensation not exceeding the maximum authorised by law, if such maximum rates shall have been prescribed, upon equal terms to all, he may make for the litigants as much money as the road thus managed is capable of earning. ”

“ Payment is required to be made to the treasurer of the State, for the use of the State, of a sum equal to three-fourths of one per cent. on the total amount of deposits in such institution, on the first day of July in each year, and the question is whether, by the true construction of that provision, the assessment is properly to be regarded as a tax on property or as a tax on the privileges and franchises of the defendant corporation. ”

“ The Code initially defines a debtor's disposable income as his "current monthly income . . . less amounts reasonably necessary to be expended." §1325 (b) (2) (emphasis added) . The statute then instructs that " [a] mounts reasonably necessary to be expended . . . shall be determined in accordance with" the means test. §1325 (b) (3) . Because Congress intended the means test to approximate the debtor's reasonable expenditures on essential items, a debtor should be required to qualify for a deduction by actually incurring an expense in the relevant category. ”

“ Under section 6 (b) persons rendering or performing the services are required 'as far as practicable, (to) add the tax imposed * * * to the value of services or charges showing such tax as a separate and distinct item and when added such tax shall constitute a part of such value of service or charge, shall be a debt from the user to the person rendering or performing service until paid, and shall be recoverable at law in the same manner as other debts.' By subsection (d) the person rendering the service is forbidden to hold out directly or indirectly that he will assume or absorb the tax. ”

“ It is not altered by the fact that the claim of loss relates to an item of gross income which had accrued in the same year.
2. Section 234 [a] [5] of the Revenue Act of 1918 provided for the deduction of wortheless debts, in computing net income, as follows: 'Debts ascertained to be worthless and charged off within the taxable year.' Under this provision, the taxpayer could not establish a right to the deduction simply by charging off the debt. It must be ascertained to be worthless within the taxable year. ”

“ The act provided for the payment to the plaintiff and others of such amounts as should be shown to the satisfaction of the commissioner of internal revenue 'to have been paid by them as tax on distilled spirits in excess of the quantity withdrawn by them from warehouse.' It is presumed that the terms of the act were known to the plaintiff, and by his acceptance of the money it must be understood that he agreed to take it as a payment of the amount shown to have been paid by him, or, in other words, as a refunding of the money exacted. ”

“ Accordingly, to avoid that result in this case, the deduction allowable in the year of repayment must be reduced by the percentage depletion allowance which respondent claimed and the Commissioner allowed in the years of receipt as a result of the inclusion of the later-refunded items in respondent's 'gross income from the property' in those years. Any other approach would allow respondent a total of $1.27 1/2 in deductions for every $1 refunded to its customers.
Under the annual accounting system dictated by the Code, each year's tax must be definitively calculable at the end of the tax year. ”

“ It then provides that a tax deed, made after the passage of that act, shall not be questioned in any suit for any other cause, unless the party wishing to contest the same shall tender to the claimant under the tax deed, or deposit in the court in which the suit is pending, for his use, the amount of redemption-money required by law to redeem, and ten per cent. per annum interest. ”

“ Art. XI. The Commissioners of the Treasury of the Public Debt shall furnish us at the end of each half-year with a Report showing, according to the vouchers which will be given to them, the manner in which the proceeds of the Guaranteed Loan have been employed. This Report will be published in the 'Journal Officiel.'
Art. XII. A tax of 5 per cent. is established on the amount of the coupons of the Preference and Unified debts [116] . This tax, however, shall only be levied on the amount of the half-yearly payments falling due in 1885 and in 1886. ”

“ And further, That in case of any neglect or refusal in making such return, or collecting and paying over the tax as directed in and by this section, the captain or master so neglecting, shall forfeit and [Pg 234] pay the sum of five hundred dollars, besides the amount of the tax so directed to be collected and paid over, to be recovered in an action of debt in the name of the people of this state, and for the use of the aforesaid fund. ”

“ Section 3408 provides that there shall be levied, collected, and paid a tax of one twenty-fourth of 1 per centum each month upon the average amount of the deposits of money, subject to payment by check or draft, or represented by certificates of deposit or otherwise, whether payable on demand or at some future day, with any person, bank, association, company, or corporation, engaged in the business of banking ”

“ The term ‘‘debit’’ refers to the net total amount, when positive, by which costs recorded on the PAYGO scorecards for a fiscal year exceed savings recorded on those scorecards for that year. (6) The term ‘‘entitlement law’’ refers to a section of law which provides entitlement authority. (7) The term ‘‘PAYGO legislation’’ or a ‘‘PAYGO Act’’ refers to a bill or joint resolution that affects direct spending or revenue relative to the baseline. ”

“ On the return for the first year in which advances are received, a taxpayer will have to report an unrealistically high net income, since he will have to include unearned receipts, without any offsetting deductions for the future cost of earning those receipts. On subsequent tax returns, each year's unearned prepayments will be partially offset by the deduction of current expenses attributable to prepayments taxed in prior years. ”

“ D. The compulsory character of the payment imposed both by the governing statute and the economic facts of life. Lincoln concedes, however, 'Compulsion, whether legal or economic, should have no bearing upon the question whether a payment is an expense or a capital expenditure.' [10]
E. The annual accounting concept of the income tax. This factor is relevant when the year of deduction is in issue. It has less consequence in the determination of whether an item is or is not an ordinary expense. ”

“ If, for example, a bank has $100,000 of undivided profits, intends to pay its depositors $75,000 interest on their deposits, and has an obligation for this tax of $10,000, it perhaps makes no difference whether the bank pays $65,000 to its depositors, without recovering anything back from them, or pays them $75,000, but later recovers back the $10,000 tax paid for their account. ”

“ In that situation, the debt is not forgiven but is in fact satisfied in full through the debtor's performance of a "separate obligation"; discharge of the debt is merely the "medium of payment" for that performance, and must be treated as ordinary income for tax purposes. ”

“ Collectors not having sufficient sums in their hands to refund, &c., the money to be paid out of the treasury.Sec. 6. And be it further enacted, That in case a collector shall not have in his hands a sufficient sum out of which to refund the sums authorized to be refunded by this act, or to defray the expenses incident to the collection of the outstanding duties and direct tax, such repayments and expenses shall be made and defrayed out of any money in the treasury not otherwise appropriated. ”

“ In taxing the costs in prize causes, where there are several claims, some of which are disposed of by a final decree of condemnation, while others are suspended by appeal, the practice is to tax the costs and expenses which have accrued, specially, upon each claim so disposed of, as a separate charge against the same, and to add thereto an average proportion of the general costs and expenses which have accrued in reference to all the claims in the cause. ”

“ Bank-checks, drafts, or notes for the payment of money drawn upon any bank, broker, or trust company, at sight or on demand, are subject to a tax of two cents, to be paid by the person who makes, signs, or issues the same, or for whose use or benefit the same are made, signed, or issued. ”

“ In case of overstatement and overpayment, the taxpayer may obtain refund calculated according to the method on which the return was made. Change from one method to the other, as petitioner seeks, would require recomputation and readjustment of tax liability for subsequent years and impose burdensome uncertainties upon the administration of the revenue laws. ”

“ Rather than authorizing all debtors to take deductions in all listed categories, Congress established a filter: A debtor may claim a deduction from a National or Local Standard table (like " [Car] Ownership Costs") if but only if that deduction is appropriate for him. And a deduction is so appropriate only if the debtor has costs corresponding to the category covered by the table—that is, only if the debtor will incur that kind of expense during the life of the plan. ”

“ And on the declaration at Your Lordships' bar of the advocate deputed by the opponents that a clause to the following effect would reconcile them to the measure, and no objection being made to it on the part of the States, these words were inserted in the gracious Order in question: viz.:—'That One Thousand Pounds per annum of the produce of the said duty be applied solely to the liquidation of the present debt, together with such surplus as shall remain out of the produce of the tax in any year after defraying the expenses of roads and embankments and unforeseen contingencies. ”

“ His gains were comparable in their nature to those which he would have reali ed if a third party, pursuant to a contract, had paid off his indebtedness on these bonds for him to the extent of the discount at which he purchased them. [5] The nature of the gain derived by a debtor from his purchase of his own obligatins at a discount is the same whether the debtor is a corporation or a natural person. ”