Filed November 13, 2015
When principle oftaxation requires reexamination, Congress is better equipped than a court [to do so].” (U.S.v. Byrum (1972) 408 U.S. 125, 135.) However, citing a 1964 federal advisory commission report, the Counties suggest that California did not adopt a documentary transfer tax on sales of stock, and limited the tax to conveyancesofrealty sold, because “very few stock transactions actually occurred in California.”