American Mfg. Co. v. St. Louis
In American Mfg. Co. v. St. Louis, 250 U. S. 459, 460, 464, 39 S.Ct. 522, 63 L.Ed. 1084 (1919), the Court considered a tax on the privilege of manufacturing measured by the sale price of manufactured goods sold during the preceding year.
Under this tax, goods manufactured prior to the year preceding imposition of the tax could enter into the measure for the tax on the privilege of manufacturing, if sold during the year preceding the imposition of the tax.
The Court approved the measure selected for the tax and upheld it.