NYU Group Says Court Should Rule Against Moore Despite 1920 Case

A century-old ruling that the plaintiffs in a key Supreme Court tax case are citing in order to make their case doesn’t really apply, and their attempt to challenge a tax on foreign income should be rejected, New York University’s Tax Law Center said.

Charles and Kathleen Moore argue that Eisner v. Macomber, a 1920 ruling, means that a corporation’s shareholders can be taxed on its income only if it’s distributed to them. They are relying on that ruling to try to overturn the “transition tax” on foreign income, also known as the mandatory repatriation tax, that was imposed ...