Boettger v. Commissioner
United States Tax Court
Petitioners, stockholders in Oak Park, received by way of distribution pursuant to the "split-up" of that corporation, stock of Oak Park North, a wholly owned subsidiary, in exchange for their Oak Park stock; other stockholders of Oak Park received stock of Germ, a second wholly owned subsidiary, in exchange for their Oak Park stock. The business engaged in by Germ immediately after the "split-up" had been acquired by Oak Park 2 1/2 years earlier in a taxable transaction.
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Petitioners, stockholders in Oak Park, received by way of distribution pursuant to the "split-up" of that corporation, stock of Oak Park North, a wholly owned subsidiary, in exchange for their Oak Park stock; other stockholders of Oak Park received stock of Germ, a second wholly owned subsidiary, in exchange for their Oak Park stock. The business engaged in by Germ immediately after the "split-up" had been acquired by Oak Park 2 1/2 years earlier in a taxable transaction. Held, the distributions to petitioners fail to qualify under sec. 355, I.R.C. 1954, because the "active business"…
1Opinion of the Court
Lloyd Boettger and Vivian Boettger, et al., 1 Petitioners v. Commissioner of Internal Revenue, Respondent
Boettger v. Commissioner
Docket Nos. 5632-66, 5689-66, 5690-66
United States Tax Court
51 T.C. 324; 1968 U.S. Tax Ct. LEXIS 21;
December 2, 1968, Filed
Decisions will be entered for the respondent.
Petitioners, stockholders in Oak Park, received by way of distribution pursuant to the "split-up" of that corporation, stock of Oak Park North, a wholly owned subsidiary, in exchange for their Oak Park stock; other stockholders of Oak Park received stock of Germ, a second wholly owned subsidiary, in…
2Cases cited7 opinions
- Coady v. CommissionerUnited States Tax Court · 1960
- Commissioner of Internal Revenue v. Marne S. Wilson, Marjorie M. Wilson, Lyle C. Wilson and Peggy WilsonCourt of Appeals for the Ninth Circuit · 1965
- Lester v. CommissionerUnited States Tax Court · 1963
- Wilson v. CommissionerUnited States Tax Court · 1964
- Burke v. CommissionerUnited States Tax Court · 1964
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