The Supreme Court has added a new tax case to its docket for the 2023-24 term: Moore v. United States. As a result, the Court will consider whether a relatively new tax—the "mandatory repatriation tax"—created under a provision of the 2017 Tax Cuts and Jobs Act is unconstitutional under the Sixteenth Amendment.
The case could have significance for future taxes, including the much-discussed tax on unrealized gains aimed at the uber-wealthy.
The petitioners, Charles and Kathleen Moore, own a 13% stake in an Indian corporation, KisanKraft Machine Tools Private Limited, formed by a friend of theirs, to supply affordable equipment to small farmers in poor regions of India. They made the investment—worth about $40,000—in 2005.