Legal Opinion
Staley v. Commissioner of Internal Revenue
Court of Appeals for the Fifth Circuit
Decided June 15, 1943No. 10606PublishedCited by 26 opinions
1Opinion of the Court
HOLMES, Circuit Judge.
This petition brings for review a decision of the Board of Tax Appeals sustaining a deficiency assessment made with respect to the 1935 fiduciary income tax return of the executor of the A. E. Staley estate. The question for decision is whether the sum of $150,000, which was paid to Staley during the tax year from the income of certain trust estates created by him, was income or was a return of capital.
In 1934 Staley, who was chairman of the board of the A. E. Staley Manufacturing Company and owned over 80% of its common stock, created a trust for each of his five…
2Cases cited9 opinions
- Helvering v. CliffordSupreme Court of the United States · 1940
- Lucas v. EarlSupreme Court of the United States · 1930
- Helvering v. HorstSupreme Court of the United States · 1940
- Griffiths v. CommissionerSupreme Court of the United States · 1939
- Harrison v. SchaffnerSupreme Court of the United States · 1941
4 more not listed; retrieve them via the Exa API.
3Cited by26 opinions
- Commissioner v. MakranskyCourt of Appeals for the Third Circuit · 1963
- Turner v. CommissionerUnited States Tax Court · 1968
- Lazarus v. CommissionerUnited States Tax Court · 1972
- Olin Bryant and Vanell Bryant v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1968
- Sheaffer v. CommissionerUnited States Tax Court · 1961
21 more not listed; retrieve them via the Exa API.