Oakland Hills Country Club v. Commissioner
United States Tax Court
Petitioner operates a country club. It is composed of "corporate" members and "privileged" members. Corporate members own stock they purchase from petitioner for $ 7,500 which entitles them to vote at club meetings and to use club facilities. Privileged members can use the club facilities but cannot own stock or vote. A corporate member cannot sell his stock to anyone but petitioner.
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Petitioner operates a country club. It is composed of "corporate" members and "privileged" members. Corporate members own stock they purchase from petitioner for $ 7,500 which entitles them to vote at club meetings and to use club facilities. Privileged members can use the club facilities but cannot own stock or vote. A corporate member cannot sell his stock to anyone but petitioner. The repurchase price is set by the corporate membership and during the years in issue was set at $ 2,500. Respondent determined that the difference ($ 5,000) between the issue price and repurchase price of a…
1Opinion of the Court
OPINION
Dawson, Judge:
This matter was heard by Special Trial Judge Caldwell1 at the motions session in Washington, D.C., on November 28, 1979, on petitioner’s motion for summary judgment pursuant to Rule 121, Tax Court Rules of Practice and Procedure, and respondent’s objection thereto.
Respondent determined the following deficiencies in petitioner’s Federal income taxes:
Deficiency FYE Sept. SO—
$176,031 1972
25,953 1973
35,317 1974
The petition in this case alleged error only with respect to adjustment C in respondent’s statutory notice of deficiency. There were four items embraced within…
2Cases cited16 opinions
- United States v. Diebold, Inc.Supreme Court of the United States · 1962
- Dixon v. United StatesSupreme Court of the United States · 1965
- City of New York v. SaperSupreme Court of the United States · 1949
- Detroit Edison Co. v. CommissionerSupreme Court of the United States · 1943
- Brown Shoe Co. v. CommissionerSupreme Court of the United States · 1950
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3Cited by14 opinions
- Southern Pacific Transp. Co. v. CommissionerUnited States Tax Court · 1980
- Wright v. CommissionerUnited States Tax Court · 1985
- Board of Trade v. CommissionerUnited States Tax Court · 1996
- Board of Trade v. CommissionerUnited States Tax Court · 1996
- Brunswick Hospital Center, Inc. v. CommissionerUnited States Tax Court · 1987
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