Mitten Bank Securities Corp. v. United States

DICKINSON, District Judge.

This is an action to recover stamp duty taxes unlawfully imposed.

The Evidentiary Facts.

The Revenue Act imposes a tax upon all bonds “issued by any corporation with interest coupons or in registered form, known generally as corporate securities”, 26 U.S.C.A. § 901, and further provides that every renewal shall be taxed as a new issue.

On March 16, 1925 Edward A. Cuthbert, an individual, was the owner of real estate premises of the type devoted to office building purposes and known as the Equitable Building. He issued a series of bonds in an aggregate sum exceeding…