Broadway Strand Theatre Co. v. Commissioner
United States Board of Tax Appeals
1. Corporation - Income - Individual. - Where a corporation held a lease upon and operated a theatre and all expenses were paid from box office receipts, and where subsequently one of the stockholders became the owner of all except two qualifying shares of capital stock, but the corporate entity was still maintained to avoid personal liability and the business was conducted substantially as before by the corporation holding the lease and paying all expenses of operation,…
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1. Corporation - Income - Individual. - Where a corporation held a lease upon and operated a theatre and all expenses were paid from box office receipts, and where subsequently one of the stockholders became the owner of all except two qualifying shares of capital stock, but the corporate entity was still maintained to avoid personal liability and the business was conducted substantially as before by the corporation holding the lease and paying all expenses of operation, held that the income of the business was that of the corporation and not that of the individual stockholder. 2. Accounts. -…
1Opinion of the Court
*1055OPINION.
Milliken:
The main question presented for determination is whether the income for the year 1921 upon Which the deficiency is based was the income of petitioner or of Phil Gleichman, an individual. In view of the extended and detailed findings of fact, we will not repeat them here. There is no dispute that prior to September, 1919, the petitioner was conducted and did business as a corporation. After that date and during the taxable year it was conducted exactly as it had been before except that there was a change of policy as to the character of pictures displayed. The mere fact that…
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- Consumers Const. Co. v. Commissioner of Internal RevenueCourt of Appeals for the First Circuit · 1938
- Autocar Co. v. CommissionerUnited States Board of Tax Appeals · 1934
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