Yadusky v. Shugars
Supreme Court of Pennsylvania
The owners of all the capital stock of the Liberty Brewing Company were the owners of its property, and, in the absence of proof of its market value when the federal taxes were paid the actual value of the corporate stock was the value of the corporate property: Jarvis, Trustee, v. Bell, 296 Pa. 568. We contend that no final assessment of taxes due to the federal government which the appellants paid for the Liberty Brewing Company was ever made against it so far as the…
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The owners of all the capital stock of the Liberty Brewing Company were the owners of its property, and, in the absence of proof of its market value when the federal taxes were paid the actual value of the corporate stock was the value of the corporate property: Jarvis, Trustee, v. Bell, 296 Pa. 568. We contend that no final assessment of taxes due to the federal government which the appellants paid for the Liberty Brewing Company was ever made against it so far as the evidence shows.
1Opinion of the Court
Opinion by
Mr. Justice Schaffer,
This is an action of assumpsit brought by plaintiffs to recover from the estate of William B. Shugars, deceased, the amount of certain federal income taxes which were assessed against the Liberty Brewing Company and which plaintiffs or the corporation were required to pay. After a trial in the court below and verdict and judgment in plaintiffs’ favor, defendant administrators took this appeal.
On October 15, 1920, Shugars and others, owners of all of the capital stock of the Liberty Brewing Company, by agreement in writing sold 395 shares of it to plaintiffs and…
2Cases cited5 opinions
- Dollar Savings Bank v. United StatesSupreme Court of the United States · 1874
- United States v. ChamberlinSupreme Court of the United States · 1911
- Yadusky v. ShugarsSupreme Court of Pennsylvania · 1930
- Dingle v. CampWashington Supreme Court · 1922
- Morrow v. HayesMichigan Supreme Court · 1924
3Cited by7 opinions
- Barium Steel Corp. v. WileySupreme Court of Pennsylvania · 1954
- Verhagen v. PlattSupreme Court of New Jersey · 1948
- Shugars's EstateSupreme Court of Pennsylvania · 1933
- Essex Co. Welfare Bd. v. PhilpottNew Jersey Superior Court Appellate Division · 1969
- Bayard v. McLaneSupreme Court of Delaware · 1840
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