Legal Opinion
Brown J. Sharp v. Commissioner of Internal Revenue
Court of Appeals for the Sixth Circuit
Decided January 25, 1983No. 81-1229PublishedCited by 9 opinions
1Opinion of the Court
KEITH, Circuit Judge.
The question presented in this appeal is whether sums paid pursuant to Ky. Rev. Stat. § 21.130 1 constitute “interest” within the ambit of section 163 of the Internal Revenue Code (“IRC”), 26 U.S.C. § 163. The United States Tax Court concluded that Ky. Rev. Stat. § 21.130 failed to satisfy the definition of “interest” because the penal character of the statute is inconsistent with the compensatory purpose of section 163. We agree.
FACTS:
The facts are not in dispute. On January 11, 1972, petitioner-appellant, Brown J. Sharp, and Sarah R. Sharp were granted a divorce. The…
2Cases cited14 opinions
- Deputy, Administratrix v. Du PontSupreme Court of the United States · 1940
- Old Colony Railroad v. CommissionerSupreme Court of the United States · 1932
- Wilkerson v. CommissionerUnited States Tax Court · 1978
- Meilink v. Unemployment Reserves Comm'n of Cal.Supreme Court of the United States · 1942
- Sharp v. SharpCourt of Appeals of Kentucky (pre-1976) · 1973
9 more not listed; retrieve them via the Exa API.
3Cited by9 opinions
- Fort Howard Corp. v. CommissionerUnited States Tax Court · 1994
- Capital One Fin. Corp. v. Comm'rUnited States Tax Court · 2009
- Container Corp. v. Comm'rUnited States Tax Court · 2010
- Watts v. Laboratory Corp. of AmericaCourt of Appeals of Kentucky · 2004
- Capital One Fin. Corp. v. Comm'rUnited States Tax Court · 2009
4 more not listed; retrieve them via the Exa API.