Commonwealth v. Passell

Opinion by

Mr. Justice Jones,

This appeal presents a narrow issue: is the transfer of real estate from a corporation to its sole stockholders, pursuant to a plan envisioning a complete liquidation of the corporation, a transaction which is subject to tax under “The Realty Transfer Tax Act”,1 (the Act), of the Commonwealth? The Court of Common Pleas of Dauphin County held that it was. We disagree and reverse the judgment entered in the court below.

The factual background of this litigation has been stipulated. Craig Realty Corporation (Craig), a do*475mestic corporation, incorporated in 1953,…