Clock v. Commissioner
United States Board of Tax Appeals
1. The law partnership of which petitioners were members was retained by the Superintendent of Banks of California to perform legal services in connection with the liquidation of insolvent state banks.
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1. The law partnership of which petitioners were members was retained by the Superintendent of Banks of California to perform legal services in connection with the liquidation of insolvent state banks. Held, that the petitioners were not officers or employees of the State of California and that the compensation received by the partnership in 1938 for services performed by its members constitutes taxable income. 2. Under a plan of reorganization under section 77B of the Bankruptcy Act, the acquiring corporation issued all of its stock and assumed all of the liabilities, including outstanding…
1Opinion of the Court
*1069OPINION.
Disney:
The petitioners contend that the compensation received by the partnership for services rendered by its members to the superintendent is nontaxable under the Public Salary Tax Act of 1939 and that the amount of the taxes paid thereon, about which there is no dispute, is subject to credit or refund under the provisions of section 203 of that act.1
The purpose of the Act was to provide that where a taxpayer asserted immunity as a state employee as to taxes prior to the taxable year beginning January 1, 1939, such immunity would be allowed, under certain procedural circumstances…
2Cases cited9 opinions
- Metcalf & Eddy v. MitchellSupreme Court of the United States · 1926
- Helvering v. GerhardtSupreme Court of the United States · 1938
- Helvering v. Southwest Consolidated Corp.Supreme Court of the United States · 1942
- Helvering v. TherrellSupreme Court of the United States · 1938
- Lucas v. HowardSupreme Court of the United States · 1929
4 more not listed; retrieve them via the Exa API.
3Cited by1 opinion
- Clock v. CommissionerUnited States Board of Tax Appeals · 1942