The Sixteenth Amendment (Amendment XVI) to the United States Constitution allows the Congress to levy an income tax without apportioning it among the states or basing it on Census results. This amendment exempted income taxes from the constitutional requirements regarding direct taxes, after income taxes on rents, dividends, and interest were ruled to be direct taxes in Pollock v. Farmers’ Loan & Trust Co. (1895). It was ratified on February 3, 1913.
Jerome Daly v First National Bank, 1968
This is the transcript of a case from 1968, Jerome Daly v. First National Bank of Montgomery. It is also referred to as the ‘Credit River Decision’. This case while initially a victory for the plaintiff Jerome Daly, the Matrix came down hard on both Daly...
