Seattle Renton Lumber Co. v. United States

HEALY, Circuit Judge.

This appeal is from an adverse judgment in a suit to recover income and excess profits taxes paid under protest. The question for determination is whether the taxpayer- — appellant-—received income from the operation of a lumber mill subsequent to June 30, 1933, at which time it undertook to dispose of all its operating property to its stockholders.

The taxpayer was incorporated in 1929 under the Washington laws, after which it built a sawmill and was continuously engaged in the manufacture and sale of lumber until the end of June 1933. It had outstanding 900 shares of…