Legal Opinion
McSorley's, Inc. v. United States
Court of Appeals for the Tenth Circuit
Decided October 31, 1963No. 7289_1PublishedCited by 38 opinions
1Opinion of the Court
BREITENSTEIN, Circuit Judge.
This is a typical “thin corporation” ease. The question is whether payments by a corporation to holders of its debenture notes are interest and for federal income tax purposes deductible under § 163(a) of the Internal Revenue Code of 1954, 26 U.S.C. § 163(a). The District Director of Internal Revenue ruled that the payments were dividends rather than interest and assessed a deficiency which the corporation paid and sued to recover. The trial court sustained the Director and dismissed the action.
Plaintiff-appellant McSorley’s, Inc., herein referred to as taxpayer,…
2Cases cited12 opinions
- Rutherford Food Corp. v. McCombSupreme Court of the United States · 1947
- United States v. Yellow Cab Co.Supreme Court of the United States · 1949
- John v. Rowan v. United StatesCourt of Appeals for the Fifth Circuit · 1955
- Kraft Foods Company v. Commissioner of Internal Revenue, (Two Cases)Court of Appeals for the Second Circuit · 1956
- Commissioner of Int. Rev. v. Meridian & Thirteenth R. Co.Court of Appeals for the Seventh Circuit · 1942
7 more not listed; retrieve them via the Exa API.
3Cited by38 opinions
- Pike v. CommissionerUnited States Tax Court · 1982
- Durkin v. CommissionerUnited States Tax Court · 1986
- J. S. Biritz Construction Co. v. Commissioner of Internal Revenue, Joseph S. Biritz and Dorothy Biritz v. Commissioner of Internal RevenueCourt of Appeals for the Eighth Circuit · 1967
- Loftin And Woodard, Inc. v. United StatesCourt of Appeals for the Fifth Circuit · 1978
- Thiele v. StateColorado Court of Appeals · 1972
33 more not listed; retrieve them via the Exa API.