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New York Ex Rel. Whitney v. Graves, 299 U.S. 366 (1937)
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General SummaryThis case is from a collection containing the full text of over 16,000 Supreme Court cases from 1793 to the present. The body of Supreme Court decisions are, effectively, the final interpretation of the Constitution. Only an amendment to the Constitution can permanently overturn an interpretation and this has happened only four times in American history.
New York Ex Rel. Whitney v. Graves, 299 U.S. 366 (1937)
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New York ex rel. Whitney v. Graves No. 218 Argued December 18, 1936 Decided January 4, 1937 299 U.S. 366
APPEAL FROM THE SUPREME COURT OF NEW YORK
Syllabus
1. An intangible property right may have a "business situs" in a State for tax purposes either because the right grows out of the actual transactions of a business there localized, or because its exercise is fixed there, exclusively or dominantly. P. 371.
2. A nonresident of New York, owning a seat in the New York Stock Exchange, who, by its rules, is privileged personaily to buy and sell securities in the market it affords only by going upon the floor of the Exchange in New York, is taxable in New York upon the profits derived by him from the sale of a "right" in a new membership appurtenant to his old one, although he may have no office or abode in New York and may fill all the orders of his customers for purchase or sale of securities by sending the orders to New York for execution on the floor of the Exchange by fellow members. P. 372.
271 N.Y. 594; 3 N.E. 2d 201; 271 N.Y. 618, 3 N.E. 2d 213, affirmed.
Appeal from the affirmance of a judgment, 246 App.Div. 652, 283 N.Y.S. 219, in a proceeding by certiorari, which sustained a tax assessed by the New York Tax Commission.
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Chicago: U.S. Supreme Court, "Syllabus," New York Ex Rel. Whitney v. Graves, 299 U.S. 366 (1937) in 299 U.S. 366 299 U.S. 367–299 U.S. 369. Original Sources, accessed November 22, 2024, http://originalsources.com/Document.aspx?DocID=YSXN1HWZIAWBJGP.
MLA: U.S. Supreme Court. "Syllabus." New York Ex Rel. Whitney v. Graves, 299 U.S. 366 (1937), in 299 U.S. 366, pp. 299 U.S. 367–299 U.S. 369. Original Sources. 22 Nov. 2024. http://originalsources.com/Document.aspx?DocID=YSXN1HWZIAWBJGP.
Harvard: U.S. Supreme Court, 'Syllabus' in New York Ex Rel. Whitney v. Graves, 299 U.S. 366 (1937). cited in 1937, 299 U.S. 366, pp.299 U.S. 367–299 U.S. 369. Original Sources, retrieved 22 November 2024, from http://originalsources.com/Document.aspx?DocID=YSXN1HWZIAWBJGP.
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