Dunlap & Associates, Inc. v. Commissioner
United States Tax Court
The petitioner, a Delaware corporation, was organized by a New York corporation and acquired the assets of the New York corporation pursuant to a statutory merger. Thereupon the petitioner issued stock in exchange for the minority stock interests in two subsidiary corporations. Immediately after the merger the petitioner owned the same assets and business as were owned by the New York corporation and the stockholders and their proportionate interests remained the same.
Read the full summary
The petitioner, a Delaware corporation, was organized by a New York corporation and acquired the assets of the New York corporation pursuant to a statutory merger. Thereupon the petitioner issued stock in exchange for the minority stock interests in two subsidiary corporations. Immediately after the merger the petitioner owned the same assets and business as were owned by the New York corporation and the stockholders and their proportionate interests remained the same. Only the State of incorporation was changed. Held, that as a result of the transactions there were three separate…
1Opinion of the Court
Atkins, Judge:
The respondent determined a deficiency in income tax for the taxable year ended March 31,1962, in the amount of $5,500. The issue is whether the respondent was correct in determining that the petitioner and its predecessor were parties to a reorganization under section 368(a) (1) (F) of the Internal Revenue Code of 1954.; that consequently under section 381 of the Code the taxable year of the predecessor did not terminate at the time of the reorganization; and that therefore the predecessor and the petitioner were in error in filing returns for portions of the taxable year…
2Cases cited5 opinions
- Helvering v. Alabama Asphaltic Limestone Co.Supreme Court of the United States · 1942
- Helvering v. Southwest Consolidated Corp.Supreme Court of the United States · 1942
- Reef Corporation v. Commissioner of Internal Revenue, Commissioner of Internal Revenue v. Reef CorporationCourt of Appeals for the Fifth Circuit · 1966
- Scientific Instrument Co. v. CommissionerUnited States Tax Court · 1952
- George J. Meyer Malt & Grain Corp. v. CommissionerUnited States Tax Court · 1948
3Cited by12 opinions
- Estate of Bernard H. Stauffer, Bonnie H. Stauffer v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1968
- Stauffer v. CommissionerUnited States Tax Court · 1967
- Casco Products Corp. v. CommissionerUnited States Tax Court · 1967
- McDonald's of Zion, 432, Ill., Inc. v. CommissionerUnited States Tax Court · 1981
- Walt Disney, Inc. v. CommissionerUnited States Tax Court · 1991
7 more not listed; retrieve them via the Exa API.