70 S.W.2d 49 | Ark. | 1934
The sole question for determination here is whether lands in Arkansas purchased with money paid by the United States Government to World War veterans as adjusted service compensation or bonus are subject to taxation. *49
The section of the United States statute (454, title 38, USCA) upon which the claim is based reads as follows: "The compensation, insurance and maintenance and support allowance payable under parts II, III, IV, respectively, shall not be assignable; shall not be subject to the claims of creditors of any person to whom an award is made under Parts II, III or IV; and shall be exempt from all taxation. Such compensation, insurance and maintenance and support allowance shall be subject to any claims which the United States may have, under parts I, III, IV and V against the person on whose account the compensation, insurance or maintenance and support allowance is payable."
In Wilson v. Sawyer,
In Stone v. Stone,
In Spicer v. Smith,
The exact question raised by this appeal has already been determined by the United States Supreme Court in Trotter v. Tennessee,
It thus appears from the above decision of the United States Supreme Court that the exemption does not follow the compensation money after its investment in lands or other forms of securities, nor relieve the owner from regular taxation thereon. The decree is affirmed.