C. G. Sloan & Co. v. Commissioner
United States Tax Court
At his death in 1953, M owned all of the capital stock of S, a corporation in the general auctioneering and appraising business.
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At his death in 1953, M owned all of the capital stock of S, a corporation in the general auctioneering and appraising business. M's will directed that the executor arrange to have S convey title to its business premises, which S then owned in fee, to the residuary trust under the will for the benefit of certain named individuals and charities; the trustee thereof was directed to grant S the right to lease such property for 50 years at a specified rental, provided S continued in its present business under its same name on the high standard that had been maintained during M's lifetime. In 1956…
1Opinion of the Court
C. G. Sloan & Co., Inc., Petitioner, v. Commissioner of Internal Revenue, Respondent
C. G. Sloan & Co. v. Commissioner
Docket No. 90224
United States Tax Court
38 T.C. 203; 1962 U.S. Tax Ct. LEXIS 141;
May 4, 1962, Filed
Decision will be entered for the respondent.
At his death in 1953, M owned all of the capital stock of S, a corporation in the general auctioneering and appraising business. M's will directed that the executor arrange to have S convey title to its business premises, which S then owned in fee, to the residuary trust under the will for the benefit of certain named individuals and…
2Cases cited6 opinions
- Helvering v. San Joaquin Fruit & Investment Co.Supreme Court of the United States · 1936
- MacK v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1945
- Mack v. CommissionerUnited States Tax Court · 1944
- Leslie J. Valleskey and Grace Valleskey v. E. J. Nelson, District Director of Internal RevenueCourt of Appeals for the Seventh Circuit · 1959
- John J. Kalbac and Dorothy Kalbac v. Commissioner of Internal Revenue, John G. Kiske and Clara Kiske v. Commissioner of Internal RevenueCourt of Appeals for the Eighth Circuit · 1962
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