Camp Wolters Land Co. v. Commissioner
United States Tax Court
1. Petitioner, a corporation organized under the laws of the State of Texas, held to have come into existence as a separate taxable entity on the date of the filing of its charter (Apr. 25, 1941), and in the application of section 711 (a) (3), I. R. C., the period to be considered is the period from that date to December 31, 1941. 2. The Commissioner's determination in connection with lease rentals for the period March 1 to April 25, 1941, received by petitioner and reported…
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1. Petitioner, a corporation organized under the laws of the State of Texas, held to have come into existence as a separate taxable entity on the date of the filing of its charter (Apr. 25, 1941), and in the application of section 711 (a) (3), I. R. C., the period to be considered is the period from that date to December 31, 1941. 2. The Commissioner's determination in connection with lease rentals for the period March 1 to April 25, 1941, received by petitioner and reported by it in its income, held, sustained where the issue pertaining thereto was not raised by the pleadings and was…
1Opinion of the Court
OPINION.
Disney, Judge:
We consider first the question: When did petitioner, a Texas corporation, come into existence as a separate taxable entity ?
Petitioner contends that it came into existence as a separate taxable entity not later than March 16, 1941. It points out that its arteles of incorporation were duly executed on March 16, 1941; that $4i ,500 out of a total of $60,000 subscribed was paid in for its capital stock before February 15, 1941; that it had borrowed money and commenced the active operation of business not later than March 16, 1941. Nevertheless, petitioner’s contention must…
2Cases cited13 opinions
- New Colonial Ice Co. v. HelveringSupreme Court of the United States · 1934
- Burk-Waggoner Oil Assn. v. HopkinsSupreme Court of the United States · 1925
- Weatherford, Mineral Wells & Northwestern Railway Co. v. GrangerTexas Supreme Court · 1894
- William Cameron & Co. v. TrueheartCourt of Appeals of Texas · 1914
- Burford Oil Co. v. CommissionerUnited States Tax Court · 1945
8 more not listed; retrieve them via the Exa API.
3Cited by10 opinions
- United States v. KoshlandCourt of Appeals for the Ninth Circuit · 1954
- Camp Wolters Enterprises, Inc. v. CommissionerUnited States Tax Court · 1954
- Camp Wolters Enterprises v. CommissionerUnited States Tax Court · 1954
- Estate of Reuben J. Freed v. CommissionerUnited States Tax Court · 1947
- Camp Wolters Enterprises v. CommissionerUnited States Tax Court · 1954
5 more not listed; retrieve them via the Exa API.