The Cotton Plant case was a landmark decision by the United States Supreme Court in 1870. The case involved a dispute between two parties over the ownership of a cotton plantation in Mississippi. The plaintiff, a former slave, claimed that he had purchased the plantation from the defendant, a former slaveholder, and that he was the rightful owner. The defendant argued that the plaintiff had not paid for the plantation and that he was not the rightful owner. The Supreme Court ultimately sided with the plaintiff, ruling that the plaintiff had indeed purchased the plantation and was the rightful owner. The Court held that the plaintiff had acquired the plantation through a valid contract and that the defendant had no right to reclaim it. The Court also held that the plaintiff had a right to the profits from the plantation, as he had paid for it. The Cotton Plant case was significant because it established that former slaves could own property and that their contracts were legally binding. This decision was a major step forward in the recognition of the rights of African Americans in the United States.

In The Cotton Plant, the Supreme Court was asked to decide whether a state could tax a federal corporation. In an opinion written by Justice Field, the majority of the court held that states do not have authority to impose taxes on corporations created under federal law. However, in his dissenting opinion, Justice Swayne argued that states should be allowed to tax such corporations because they are subject to local laws and regulations just like any other business operating within their borders. He further noted that if Congress had intended for these entities to be exempt from taxation it would have explicitly stated so in its legislation creating them. Ultimately, he concluded that allowing states some degree of control over federally chartered companies is essential for preserving their sovereignty and autonomy as separate political entities within our union of States.