Decker v. Commissioner
United States Tax Court
Five individuals who owned all the stock of a corporation entered into agreement whereby it was agreed that upon death of a stockholder, the surviving stockholders would buy decedent's stock at book value. Upon the death of one stockholder in 1953 and another in 1954, the surviving stockholders purchased decedents' stock and immediately transferred it to the corporation, which paid them the same amount for the stock they had paid decedents' estates.
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Five individuals who owned all the stock of a corporation entered into agreement whereby it was agreed that upon death of a stockholder, the surviving stockholders would buy decedent's stock at book value. Upon the death of one stockholder in 1953 and another in 1954, the surviving stockholders purchased decedents' stock and immediately transferred it to the corporation, which paid them the same amount for the stock they had paid decedents' estates. Corporation held stock in treasury and sold some of it each year thereafter to key employees. Held, the payments made by the corporation to the…
1Opinion of the Court
DeeNNEN, Judge:
In these consolidated proceedings respondent determined deficiencies in income tax for the above petitioners for the taxable years and in the amounts shown below.
Docket No. Petitioners 1963 1954
09496 John A. Decker and Gladys I. Decker__ $18,780.14 $24.888.97
69497 Estate of William E. Decker, deceased, Mary J. Decker, executrix, and Mary J. Decker... 15,049.44
69498 James W. Reichert and Barbara P. Reichert.. 18,784.30 24,857.20
69499 John F. Reichert III and Alice R. Reichert--. 18,209.02 23,923.63
The issue is whether certain payments made by the Decker-Reichert Steel Company to…
2Cases cited13 opinions
- Bazley v. CommissionerSupreme Court of the United States · 1947
- Wall v. United StatesCourt of Appeals for the Fourth Circuit · 1947
- Commissioner v. Estate of BedfordSupreme Court of the United States · 1945
- Flanagan v. HelveringCourt of Appeals for the D.C. Circuit · 1940
- Boyle v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1951
8 more not listed; retrieve them via the Exa API.
3Cited by56 opinions
- Meyer v. CommissionerUnited States Tax Court · 1966
- Ciaio v. CommissionerUnited States Tax Court · 1967
- Edgar S. Idol, Katherine G. Idol, and Speedway Transports, Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Eighth Circuit · 1963
- Charles P. Ballenger, Jr., and Myrtle S. Ballenger v. United StatesCourt of Appeals for the Fourth Circuit · 1962
- Smith v. CommissionerUnited States Tax Court · 1978
51 more not listed; retrieve them via the Exa API.