Apicella v. Commissioner
United States Tax Court
For several years prior to 1933, petitioner Salvatore Apicella engaged in the sale and manufacture of furniture as a sole proprietor, during which time his wife, Rachel, contributed some capital and services. In 1933 the business was incorporated. All the stock of the corporation, consisting of 200 shares, was issued to Salvatore who, in 1936, transferred 100 of the shares to Rachel.
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For several years prior to 1933, petitioner Salvatore Apicella engaged in the sale and manufacture of furniture as a sole proprietor, during which time his wife, Rachel, contributed some capital and services. In 1933 the business was incorporated. All the stock of the corporation, consisting of 200 shares, was issued to Salvatore who, in 1936, transferred 100 of the shares to Rachel. On December 23, 1936, Salvatore created a trust for the benefit of petitioners' three children aged 14, 11, and 7. He transferred 60 shares of the 100 held by him to the trust. In 1937 Rachel transferred 34 of…
1Opinion of the Court
Aeundell, Judge:
These consolidated proceedings involve deficiencies in income tax for the taxable years ended December 31, 1943 through 1950, as follows:
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The issues are: (1) Whether petitioner Salvatore Apicella, on December 23, 1936, created a valid trust for income tax purposes in favor of petitioners’ three minor children; (2) whether petitioners are taxable on the entire liquidating dividend of a corporation which was liquidated on December 31, 1943, and (3) whether petitioners are taxable on the entire income from the operation of a furniture upholstery business carried on…
2Cases cited12 opinions
- Helvering v. CliffordSupreme Court of the United States · 1940
- Commissioner v. CulbertsonSupreme Court of the United States · 1949
- Hash v. COMMISSIONER OF INTERNAL REVENUECourt of Appeals for the Fourth Circuit · 1945
- Feldman v. Commissioner of Internal RevenueCourt of Appeals for the Fourth Circuit · 1950
- Feldman v. CommissionerUnited States Tax Court · 1950
7 more not listed; retrieve them via the Exa API.
3Cited by4 opinions
- Acuff v. CommissionerUnited States Tax Court · 1960
- Willett v. CommissionerUnited States Tax Court · 1958
- Acuff v. CommissionerUnited States Tax Court · 1960
- Apicella v. CommissionerUnited States Tax Court · 1957