Meyer v. Commissioner
United States Board of Tax Appeals
Petitioners owned all the stock in corporation A, which in turn owned all the stock of corporation B. Petitioner withdrew amounts of money from corporation B which were charged on the books of that corporation to accounts standing in the names of petitioners. Interest on amounts so charged was also charged to those accounts.
Read the full summary
Petitioners owned all the stock in corporation A, which in turn owned all the stock of corporation B. Petitioner withdrew amounts of money from corporation B which were charged on the books of that corporation to accounts standing in the names of petitioners. Interest on amounts so charged was also charged to those accounts. Petitioners paid certain amounts to corporation B, all of which were credited on those accounts, some of the amounts so paid being designated as interest. Held, that the net withdrawals from corporation B were distributions from its earnings or profits made to petitioners…
1Opinion of the Court
*236OPINION.
Tyson:
The respondent, on brief, concedes that there are no de-ficiences of any of the petitioners for the year 1934. He also concedes, *237on brief, that the amounts of withdrawals by petitioners from Limited in each of the years 1932,1933, and 1934, determined by him to constitute dividends to petitioners in those respective years, should be reduced by the amounts which were paid by petitioners in each of such years and designated on the books of Limited as “interest” in the accounts of “Ben R. & Bay C. Meyer” and “Milton E. & Estelle O. Getz.”
The only issues remaining for decision are…
2Cases cited4 opinions
- Gregory v. HelveringSupreme Court of the United States · 1935
- Higgins v. SmithSupreme Court of the United States · 1940
- United States v. PhellisSupreme Court of the United States · 1921
- Griffiths v. CommissionerSupreme Court of the United States · 1939
3Cited by52 opinions
- Charles A. Sammons, Individually, and Estate of Rosine S. Sammons, Deceased, Charles A. Sammons, Independent v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1973
- George R. Tollefsen and Margaret A. Tollefsen v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1970
- Montgomery Coca-Cola Bottling Co. v. United StatesUnited States Court of Claims · 1980
- Dean v. CommissionerUnited States Tax Court · 1971
- Ralph D. Crowley and Frances A. Crowley v. Commissioner of Internal RevenueCourt of Appeals for the First Circuit · 1992
47 more not listed; retrieve them via the Exa API.