Schulze v. Comm'r
United States Tax Court
1. Petitioner entered into a contractual arrangement with Certain-Teed for development of certain processes patented by petitioner.
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1. Petitioner entered into a contractual arrangement with Certain-Teed for development of certain processes patented by petitioner. Held, petitioner failed to prove that the $15,000 he received from Certain-Teed was consideration for transfer of all substantial rights to a patent taxable as capital gain under sec. 1235, I.R.C. 1954. 2. Petitioners' tax return for 1971 was not filed until 1977. Held, petitioners failed to prove that the failure to file the return timely was due to reasonable cause. Addition to tax under sec. 6651(a)(1), I.R.C. 1954, sustained.
1Opinion of the Court
HERBERT C. SCHULZE and MARY JEANNE SCHULZE, Petitioners v. COMMISSIONER OF INTERNAL REVENUE, Respondent
Schulze v. Comm'r
Docket No. 8976-77.
United States Tax Court
T.C. Memo 1980-385; 1980 Tax Ct. Memo LEXIS 195; 40 T.C.M. (CCH) 1234; T.C.M. (RIA) 80385; 210 U.S.P.Q. (BNA) 29;
September 16, 1980, Filed
1. Petitioner entered into a contractual arrangement with Certain-Teed for development of certain processes patented by petitioner. Held, petitioner failed to prove that the $15,000 he received from Certain-Teed was consideration for transfer of all substantial rights to a patent taxable as capital…
2Cases cited11 opinions
- Bebb v. CommissionerUnited States Tax Court · 1961
- PPG Indus., Inc. v. CommissionerUnited States Tax Court · 1970
- Thomas L. Fawick and Marie Fawick v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1971
- United States Mineral Products Co. v. CommissionerUnited States Tax Court · 1969
- Fawick v. Comm'rUnited States Tax Court · 1969
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- Guaranteed Rate, Inc., Trademark Trial and Appeal Board2020
- Guaranteed Rate, Inc., Trademark Trial and Appeal Board2020