The exaction is supposed to fund a program to connect schools and libraries to the Internet.
Brownback triumphed and is now putting Kansas on the path to eliminating this exaction altogether.
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So the question is, quite simply, whether the exaction here is imposed for violation of the law.
After 1932, with tax rates up in the sky, the race was on among investors to shield income from exaction.
But inflation subsided, and in 1997 the nominal capital gains exaction was cut from 28% to 20%, and cut again in 2003 to 15%.
Therefore, a great proportion of everyone else is hit with exaction.
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And he would eliminate New York's invidious corporate alternative minimum tax--New York being one of the few states that imposes this administrative nightmare of an exaction.
But the Supreme Court declared the exaction to be unconstitutional, though only when applied to rental income and other revenues derived from property use (such as dividends).
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" But we have never never treated as a tax an exaction which faces up to the critical difference between a tax and a penalty, and explicitly denominates the exaction a "penalty.
We never have classified as a tax an exaction imposed for violation of the law, and so too, we never have classified as a tax an exaction described in the legislation itself as a penalty.
We have never held that any exaction imposed for violation of the law is an exercise of Congress' taxing power even when the statute calls it a tax, much less when (as here) the statute repeatedly calls it a penalty.
YOU'LL BE SHORTCHANGED Some advocates of a national internet sales tax say such a levy could be made more palatable by combining it with the repeal of federal and perhaps state telephone taxes, which can add up to an almost 20% exaction on your phone calls.
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