Bowers v. Kerbaugh-Empire Co.
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| Bowers v. Kerbaugh-Empire Co. | |||||||||||||
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| Argued January 25, 1926 Decided May 3, 1926 |
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| Holding | |||||||||||||
| No taxable income arose from the repayment in German marks of loans that had originally been made in U.S. dollars, despite the fact that the marks had gone down in value relative to the dollar since the loan had been made. | |||||||||||||
| Court membership | |||||||||||||
| Chief Justice: William Howard Taft Associate Justices: Oliver Wendell Holmes, Jr., Willis Van Devanter, James Clark McReynolds, Louis Brandeis, George Sutherland, Pierce Butler, Edward Terry Sanford, Harlan Fiske Stone |
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| Case opinions | |||||||||||||
| Majority by: Butler Joined by: Taft, Holmes, Van Devanter, McReynolds, Sutherland, Sanford, Stone Concurrence by: Brandeis |
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| Laws applied | |||||||||||||
| U.S. Const. | |||||||||||||
Bowers v. Kerbaugh-Empire Co., 271 U.S. 170 (1926), was a case in which the United States Supreme Court held that no taxable income arose from the repayment in German marks of loans that had originally been made in U.S. dollars, despite the fact that the marks had gone down in value relative to the dollar since the loan had been made.
This decision was narrowed by the court six years later in United States v. Kirby Lumber Co..
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