In Swift Company v. United States, the Supreme Court of the United States was asked to decide whether the United States government had the right to tax the profits of a company that was incorporated in one state but did business in another. The company, Swift, argued that the government did not have the right to tax its profits because it was not doing business in the state where it was incorporated. The Supreme Court disagreed, ruling that the government had the right to tax the profits of a company that was incorporated in one state but did business in another. The Court reasoned that the government had the right to tax the profits of a company regardless of where it was incorporated, as long as it was doing business in the United States. The Court also noted that the government had the right to tax the profits of a company regardless of where it was incorporated, as long as it was doing business in the United States. The Court's ruling established that the government had the right to tax the profits of a company regardless of where it was incorporated, as long as it was doing business in the United States.

In the case of Swift Company v. United States, Justice Field delivered a dissenting opinion in which he argued that Congress had no authority to pass legislation that would allow for the taxation of income from bonds issued by state governments. He reasoned that such taxes were unconstitutional because they interfered with states' rights and violated the Tenth Amendment, which reserves all powers not delegated to the federal government to be held by either individual states or citizens themselves. Furthermore, he argued that if Congress was allowed to tax income from these bonds then it could also impose other forms of taxation on them as well - something which would be an undue burden on both individuals and businesses alike. Ultimately, Justice Field concluded his dissent by stating that any attempt at taxing this type of income should have been left up to individual states rather than being imposed upon them by Congress without their consent.