Meyer v. Commissioner
United States Tax Court
In 1946 petitioners, Leon and Lucile, husband and wife, who were coowners of a partnership caused the organization of a corporation, Jewelry, to which they transferred the partnership assets in exchange for the assumption of the partnership liabilities and the issuance to them in equal amounts of Jewelry's capital stock (designated as class A stock) and notes totaling in par and face value the net value of the partnership assets so transferred.
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In 1946 petitioners, Leon and Lucile, husband and wife, who were coowners of a partnership caused the organization of a corporation, Jewelry, to which they transferred the partnership assets in exchange for the assumption of the partnership liabilities and the issuance to them in equal amounts of Jewelry's capital stock (designated as class A stock) and notes totaling in par and face value the net value of the partnership assets so transferred. In 1947 the notes were capitalized by the issuance to Leon and Lucile of class B stock of Jewelry which had at that time voting rights and some…
1Opinion of the Court
Leon R. Meyer, Petitioner, v. Commissioner of Internal Revenue, Respondent; 1 Lucile H. Meyer, Petitioner, v. Commissioner of Internal Revenue, Respondent 1
Meyer v. Commissioner
Docket Nos. 4779-62, 4780-62
United States Tax Court
46 T.C. 65; 1966 U.S. Tax Ct. LEXIS 114;
April 21, 1966, Filed
Decisions will be entered under Rule 50.
In 1946 petitioners, Leon and Lucile, husband and wife, who were coowners of a partnership caused the organization of a corporation, Jewelry, to which they transferred the partnership assets in exchange for the assumption of the partnership liabilities and the issuance…
2Cases cited45 opinions
- Doyle v. Mitchell Brothers Co.Supreme Court of the United States · 1918
- Commissioner v. JacobsonSupreme Court of the United States · 1949
- Nat Harrison Assoc., Inc. v. CommissionerUnited States Tax Court · 1964
- Gene O. Clark and Faye Clark v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1959
- Flanagan v. HelveringCourt of Appeals for the D.C. Circuit · 1940
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