103 Mass. 544 | Mass. | 1870
The petitioner’s complaint of the manner in which he has been taxed in the town of Medford, where he resides, is based entirely on the assumption that the income which he derives from his business as a member of the firm is derived from their “ stock in trade ” legally taxable and actually taxed in the city of Boston. On that ground, he claims that the tax upon his income is assessed in violation of that clause of the statute which provides that “ no income shall be taxed which is derived from property subject to taxation.” Gen. Sts. c. 11, § 4.
But it appears to us that the assumption on which the petitioner’s case depends is a fallacy. The income from a “ profession, trade or employment,” which is taxable under our system of laws, is an entirely different thing from the capital invested in the business, or the stock of goods in the purchase of which
Petition dismissed, with costs.