Walter Alexander Co. v. Tax Commission

This appeal relates to two items assessed by the Wisconsin Tax Commission, for the purpose of taxation, as’income of the appellant Walter Alexander Company in the years 1927 and 1928. One of those items is for $475,084.91, which the commission concluded was an unreported profit that had been realized by appellant October, 1927. In 1920, appellant was organized by Walter Alexander and his four children as a Wisconsin corporation, to hold and deal in securities and investments. Those five members of the Alexander family subscribed for $1,000,000 of capital stock, for which they turned over to…