Koch v. Commissioner
United States Board of Tax Appeals
The determination by the Commissioner that the admitted book value of stock is its real value for purposes of taxation is not overcome by a bylaw of the corporation requiring stockholders desiring to sell their stock to offer it for sale first to the corporation at a stated price which is less than the admitted book value.
1Opinion of the Court
OPINION.
Seawell:
The respondent determined a deficiency in estate tax herein of $4,689.24, of which amount the petitioner in his petition concedes that $4,109.74 is due and payable. The balance of the determined deficiency, $529.50, petitioner contests in this proceeding on the grounds set out in the stipulation of facts filed by the parties.
Frederick A. Koch, a resident of New York, died testate April 26, 1929, possessed of 25 shares of the capital stock of the Builders Holding Corporation (and other property not here involved), which shares were included in .the Federal estate tax return of…
2Cases cited3 opinions
- Drawoh, Inc. v. CommissionerUnited States Board of Tax Appeals · 1933
- Schulz v. CommissionerUnited States Board of Tax Appeals · 1928
- Meyer v. CommissionerUnited States Board of Tax Appeals · 1931
3Cited by7 opinions
- Estate of Reynolds v. CommissionerUnited States Tax Court · 1970
- Mathews v. United StatesDistrict Court, E.D. New York · 1964
- Baldwin v. CommissionerUnited States Tax Court · 1959
- Estate of Reynolds v. CommissionerUnited States Tax Court · 1970
- Huntington v. CommissionerUnited States Board of Tax Appeals · 1937
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