Crocker v. Commissioner
United States Board of Tax Appeals
1. Where a corporation was organized in 1892 but forfeited its charter prior to the expiration thereof in 1912, and it continued thereafter without liquidation to operate as a public utility in its corporate name without material changes from the plan and manner in which it had theretofore conducted its affairs since its organization, even though its affairs were managed and directed by one of its stockholders in his discretion without strict regard to corporate formalities,…
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1. Where a corporation was organized in 1892 but forfeited its charter prior to the expiration thereof in 1912, and it continued thereafter without liquidation to operate as a public utility in its corporate name without material changes from the plan and manner in which it had theretofore conducted its affairs since its organization, even though its affairs were managed and directed by one of its stockholders in his discretion without strict regard to corporate formalities, held, it was in 1927 an association taxable as a corporation under section 2(a)(2) of the Revenue Act of 1926 and…
1Opinion of the Court
*865OPINION.
McMahon:
The respondent contends that the Maroa Co. was organized as a corporation in 1892 for a period of 20 years; that it operated as a de jure corporation in the conduct of a public utility until it forfeited its charter, not later than 1910; and that thereafter the stockholders of the corporation continued to operate as a public utility in the name of the corporation until sold in 1927, and therefore it is taxable as an association within section 2 (a) (2) of the Revenue Act of 1926 and article 1502 of Regulations 69, and in particular within the last sentence of article 1502,…
2Cases cited6 opinions
- Brewster v. GageSupreme Court of the United States · 1930
- Burk-Waggoner Oil Assn. v. HopkinsSupreme Court of the United States · 1925
- Helvering v. BlissSupreme Court of the United States · 1934
- McCaughn v. Hershey Chocolate Co.Supreme Court of the United States · 1931
- Olmstead v. Distilling & Cattle-Feeding Co.U.S. Circuit Court for the Northern District of Illnois · 1895
1 more not listed; retrieve them via the Exa API.
3Cited by3 opinions
- Crocker v. CommissionerUnited States Board of Tax Appeals · 1935
- Schuerholz v. CommissionerUnited States Tax Court · 1976
- Wass & Stinson Canning Co. v. CommissionerUnited States Tax Court · 1945