Estate of George T. Klein v. Comm'r
United States Tax Court
Held, a 1960 "Exclusive License Agreement" which was limited geographically granted "all substantial rights" to a patent so as to qualify the proceeds for capital gains treatment under sec. 1235, I.R.C. 1954. Vincent B. Rodgers, 51 T.C. 927 (1969), followed.
1Opinion of the Court
OPINION
Tietjens, Judge:
The Commissioner determined deficiencies in petitioners’ income taxes as follows:
Taxable year Deficiency
1966_ $1,829.50
1967_ 22,921.60
1968_ 79,759.04
This case was fully stipulated pursuant to Rule 30, Tax Court Rules of Practice. The facts which we deem necessary for decision will be referred to below.
The question for decision is whether an “Exclusive License Agreement” between George T. Klein (hereafter decedent) and Organic Compost Corp. of Pennsylvania (hereafter Pennsylvania) represents a transfer the proceeds of which qualify for capital gains treatment under…
2Cases cited6 opinions
- Thomas L. Fawick and Marie Fawick v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1971
- Rodgers v. CommissionerUnited States Tax Court · 1969
- Rouverol v. Comm'rUnited States Tax Court · 1964
- Fawick v. Comm'rUnited States Tax Court · 1969
- Redler Conveyor Company v. Commissioner of Internal RevenueCourt of Appeals for the First Circuit · 1962
1 more not listed; retrieve them via the Exa API.
3Cited by12 opinions
- Don and Irene Kueneman, John R. Kueneman, and Edmund W. And Ella M. Harrell v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1980
- Kueneman v. CommissionerUnited States Tax Court · 1977
- Estate of George T. Klein, Deceased, Shirley Klein, Personal Representative and Shirley Klein v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1974
- Blake v. Comm'rUnited States Tax Court · 1976
- Charlson v. United StatesUnited States Court of Claims · 1975
7 more not listed; retrieve them via the Exa API.