Miller v. Commissioner
United States Tax Court
1. Held, that where petitioner's decedent withdrew from an insolvent corporation of which he was an officer and substantial stockholder, large amounts of cash which he used in part for the corporation's benefit and in part for his own personal purposes, said decedent was liable as a transferee of said corporation, to the extent that he withdrew and used the same for his own personal purposes; and that the petitioner's estate is liable for the amount of said transferee…
Read the full summary
1. Held, that where petitioner's decedent withdrew from an insolvent corporation of which he was an officer and substantial stockholder, large amounts of cash which he used in part for the corporation's benefit and in part for his own personal purposes, said decedent was liable as a transferee of said corporation, to the extent that he withdrew and used the same for his own personal purposes; and that the petitioner's estate is liable for the amount of said transferee liability, together with interest thereon as provided by law. 2. Held, that the petitioner's estate has not established error…
1Opinion of the Court
Pierce, Judge:
In docket No. 87180, respondent determined transferee liability against the decedent, Henry Miller, in the amount of $137,949.75, in respect of income taxes of Goldmark Coat Co., Inc., for its taxable fiscal years ended on the last day of February 1952 through 1956. Following the death of Henry Miller, his estate was substituted as the petitioner herein. Thereafter respondent, by amendment to his answer at the trial herein, made claim to an increased transferee liability in the aggregate amount of $152,348.58, together with interest thereon as provided by law.
In docket Nos.…
2Cases cited5 opinions
- Phillips v. CommissionerSupreme Court of the United States · 1931
- Commissioner v. LesterSupreme Court of the United States · 1961
- Healy v. CommissionerSupreme Court of the United States · 1953
- Gobins v. Comm'rUnited States Tax Court · 1952
- Mills v. CommissionerUnited States Tax Court · 1945
3Cited by22 opinions
- Gumm v. CommissionerUnited States Tax Court · 1989
- Adams v. CommissionerUnited States Tax Court · 1978
- Hagaman v. CommissionerUnited States Tax Court · 1993
- Colestock v. CommissionerUnited States Tax Court · 1994
- Stuart v. CommissionerUnited States Tax Court · 2015
17 more not listed; retrieve them via the Exa API.