Badger Materials, Inc. v. Commissioner
United States Tax Court
Petitioner corporation was dissolved on November 4, 1957, under Wisconsin law which provides that upon dissolution the corporation ceases to exist except for suits or other proceedings commenced within 2 years from the date of dissolution.
Read the full summary
Petitioner corporation was dissolved on November 4, 1957, under Wisconsin law which provides that upon dissolution the corporation ceases to exist except for suits or other proceedings commenced within 2 years from the date of dissolution. During the 2-year period following dissolution, the corporation's treasurer executed consents purporting to extend the period for assessment of tax deficiencies for the years ended October 31, 1955, and October 31, 1956, to June 30, 1960. An informal conference was held on September 18, 1959, but no further action was taken by either party before the 2-year…
1Opinion of the Court
Dawson, Judge:
Respondent determined deficiencies in income tax of Badger Materials, Inc., in the amounts of $43,965.07 and $52,221.01 for the taxable years ended October 31, 1955, and October 31, 1956, respectively. Respondent further determined transferee liability against each individual petitioner as a transferee of assets of the corporation.
Petitioners in Docket No. 88818, Badger Materials, Inc., and Docket No. 94219, Arthur Overgaard, whose transferee liability was determined to be in the entire amount of the deficiencies of the corporation as set out above, have moved to dismiss the…
2Cases cited12 opinions
- Chicago Title & Trust Co. v. Forty-One Thirty-Six Wilcox Bldg. Corp.Supreme Court of the United States · 1937
- Ross v. Commissioner of Internal RevenueCourt of Appeals for the First Circuit · 1948
- Wheeler's Peachtree Pharmacy, Inc. v. CommissionerUnited States Tax Court · 1960
- The Crosley Corporation v. United StatesCourt of Appeals for the Sixth Circuit · 1956
- Lucas v. HuntCourt of Appeals for the Fifth Circuit · 1930
7 more not listed; retrieve them via the Exa API.
3Cited by21 opinions
- Woods v. CommissionerUnited States Tax Court · 1989
- Uinta Livestock Corporation, a Wyoming Corporation v. United StatesCourt of Appeals for the Tenth Circuit · 1966
- Condo v. CommissionerUnited States Tax Court · 1977
- Rock v. United StatesDistrict Court, S.D. New York · 1968
- Associates Inv. Co. v. CommissionerUnited States Tax Court · 1972
16 more not listed; retrieve them via the Exa API.