Smith v. Commissioner
United States Board of Tax Appeals
1. CORPORATION - DISSOLUTION. Where a corporation was dissolved and under the laws of the State of Washington its assets were turned over to trustees in dissolution for liquidation and distribution, held, this does not constitute a distribution to or a receipt of assets by the stockholders. Wells Fargo Bank v. Blair, 26 Fed.(2d) 532, followed. 2. Id.
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1. CORPORATION - DISSOLUTION. Where a corporation was dissolved and under the laws of the State of Washington its assets were turned over to trustees in dissolution for liquidation and distribution, held, this does not constitute a distribution to or a receipt of assets by the stockholders. Wells Fargo Bank v. Blair, 26 Fed.(2d) 532, followed. 2. Id. Where the trustees in dissolution conveyed the undivided assets to a national bank with trust powers, in trust for the purposes of liquidation and ultimate distribution to the stockholders, the transfer of the assets to the trustee was not a…
1Opinion of the Court
*1183OPINION.
Black :
In Docket No. 43301 it has been stipulated that the liability of petitioner W. E. Plauser as the transferee of the assets of the Smith Securities Company for the year 1924 is $3,567.91. In Docket No. 43305 it has been stipulated that the liability of petitioner Mrs. Grant Smith as the transferee of the assets of the Smith Securities *1184Company for the year 1924 is $3,567.91. Determination will be made accordingly.
The remaining issues are:
1. Whether or not W. E. Hauser and the estate of Grant Smith received all of the assets of the Smith Securities Company in 1925; and
2. Whether or…
2Cited by24 opinions
- Messer v. CommissionerUnited States Tax Court · 1969
- Elgin Compress Co. v. CommissionerUnited States Board of Tax Appeals · 1934
- Century Data Systems, Inc. v. CommissionerUnited States Tax Court · 1983
- Vern Realty, Inc. v. CommissionerUnited States Tax Court · 1972
- Shull v. CommissionerUnited States Tax Court · 1960
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