Niagara Hudson Power Corporation v. Hoey

CLARK, Circuit Judge.

The question here presented is whether or not a corporation resulting from a consolidation of two existing corporations under § 86 of the New York Stock Corporation Law, Consol.Laws, c. 59, is liable for the federal documentary stamp tax levied by Section 800, Schedule A-3, of Title VIII of the Revenue Act of 1926, c. 27, 44 Stat. 9, 99, 101, as amended by Section 723(a) of the Revenue Act of 1932, c. 209, 47 Stat. 169, 272, 26 U.S.C. A. Int.Rev.Acts, page 290, in respect of stocks received by it from the constituent corporations.

Section 800, Schedule A-3, imposes the tax…