Mid-Southern Foundation v. Commissioner
United States Tax Court
Madison Avenue Corporation, during and prior to the taxable periods involved, was engaged in managing and leasing office space in the Sterick Building, its principal asset, located in Memphis, Tennessee. From approximately August 1946 to November 1949, inclusive, it also owned and operated a farm as a branch business.
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Madison Avenue Corporation, during and prior to the taxable periods involved, was engaged in managing and leasing office space in the Sterick Building, its principal asset, located in Memphis, Tennessee. From approximately August 1946 to November 1949, inclusive, it also owned and operated a farm as a branch business. On June 10, 1952, petitioner acquired all outstanding stock of Madison, all the assets of Madison were transferred to petitioner, and petitioner assumed all the liabilities of said corporation. The corporate charter of Madison was surrendered on June 10, 1952. Respondent…
1Opinion of the Court
Mid-Southern Foundation, Petitioner, v. Commissioner of Internal Revenue, Respondent
Mid-Southern Foundation v. Commissioner
Docket No. 57866
United States Tax Court
28 T.C. 918; 1957 U.S. Tax Ct. LEXIS 129;
July 29, 1957, Filed
Decision will be entered for the respondent.
Madison Avenue Corporation, during and prior to the taxable periods involved, was engaged in managing and leasing office space in the Sterick Building, its principal asset, located in Memphis, Tennessee. From approximately August 1946 to November 1949, inclusive, it also owned and operated a farm as a branch business. On June 10,…
2Cases cited5 opinions
- Cohan v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1930
- Bullock v. CommissionerUnited States Tax Court · 1956
- McDaniel v. CommissionerUnited States Tax Court · 1955
- Thomas Paper Stock Co. v. CommissionerUnited States Tax Court · 1954
- Mid-Southern Foundation v. CommissionerUnited States Tax Court · 1957