Legal Opinion
Johnson, Carvell & Murphy v. Riddell
District Court, S.D. California
Decided March 27, 1959No. 266PublishedCited by 6 opinions
1Opinion of the Court
HARRISON, District Judge.
Plaintiff corporation brings this action against the District Director of Internal Revenue to recover $9,691.34 plus interest which sum it paid as corporate income taxes for the calendar year 1954.
The facts are that plaintiff, being desirous of having its stock closely held only by persons working for the corporation, entered into a written agreement with its shareholders on January 26, 1948 (Exhibit 1) which gave plaintiff corporation an option to acquire the shares owned by retiring or deceased shareholders at a price of $1,000 per share. This agreement also…
2Cases cited3 opinions
- Dill Mfg. Co. v. CommissionerUnited States Board of Tax Appeals · 1939
- Lencard Corp. v. CommissionerUnited States Board of Tax Appeals · 1942
- Lucius Pitkin, Inc. v. CommissionerUnited States Tax Court · 1949
3Cited by6 opinions
- Gravois Planing Mill Company, Charles A. And Florence Beckemeier v. Commissioner of Internal RevenueCourt of Appeals for the Eighth Circuit · 1962
- Esmark, Inc. v. CommissionerUnited States Tax Court · 1988
- Mains v. United StatesDistrict Court, S.D. Ohio · 1974
- Industrial Air Products Co. v. State Tax CommissionOregon Supreme Court · 1964
- Esmark, Inc. v. CommissionerUnited States Tax Court · 1988
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