Legal Opinion
Commissioner v. Phipps
Supreme Court of the United States
Decided March 14, 1949No. 83PublishedCited by 52 opinions
1Opinion of the CourtJustice Murphy
This case involves a tax-free liquidation by a parent corporation of some of its subsidiaries. At the time of the liquidation the parent had earnings and profits available for distribution, and the subsidiaries had an aggregate net deficit. The issue now before us is whether the rule of Commissioner v. Sansome, 60 F. 2d 931, requires the subtraction of the subsidiaries’ deficit from the parent’s earnings and profits, in determining whether a subsequent distribution by the parent constituted dividends or a return of capital to its stockholders.
The Sansome case, supra, arose from a tax-free…
2Cases cited19 opinions
- Commissioner v. WheelerSupreme Court of the United States · 1945
- Commissioner of Internal Revenue v. SansomeCourt of Appeals for the Second Circuit · 1932
- Commissioner v. MunterSupreme Court of the United States · 1947
- Georday Enterprises v. Commissioner of Internal Rev.Court of Appeals for the Fourth Circuit · 1942
- Harter v. HelveringCourt of Appeals for the Second Circuit · 1935
14 more not listed; retrieve them via the Exa API.
3Cited by52 opinions
- Gene O. Clark and Faye Clark v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1959
- Jones v. Haridor Realty Corp.Supreme Court of New Jersey · 1962
- Bressner Radio, Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1959
- Standard Paving Co. v. CommissionerUnited States Tax Court · 1949
- Mandell v. HaddonSupreme Court of Virginia · 1961
47 more not listed; retrieve them via the Exa API.