Comet Co. v. Department of Taxation

For the purpose of passing upon the appeal of plaintiff, Comet Company (hereinafter called “Comet”), from the judgment confirming the order of the Wisconsin board of'tax appeals, which affirmed an assessment of $25,735.51 as privilege dividend taxes on dividends declared and paid by Comet in 1935, 1936, and 1937, it suffices to note the following matters. Comet is a Wisconsin corporation. Its assets consisted almost entirely of stock in Premier Pabst Corporation of Delaware (hereinafter called “Premier”) ; and Comet’s principal business and income were the receipt of dividends on that stock…