LoBue v. Commissioner
United States Tax Court
In January 1945, petitioner was granted an option by his employer to purchase stock if he was still employed on June 30. In May, he gave his unconditional promissory note payable in 1947 in the amount of the option purchase price. He was employed on June 30. On January 1, 1946, he was given another option to purchase an additional 150 shares of stock.
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In January 1945, petitioner was granted an option by his employer to purchase stock if he was still employed on June 30. In May, he gave his unconditional promissory note payable in 1947 in the amount of the option purchase price. He was employed on June 30. On January 1, 1946, he was given another option to purchase an additional 150 shares of stock. He gave his unconditional promissory note in the amount of the option purchase price on January 3. Petitioner paid the notes and received the shares on May 24, 1946. The option purchase price was less than the fair market value of the stock at…
1Opinion of the Court
SUPPLEMENTAL OPINION.
Rice, Judge:
This case is here on remand from the United States Court of Appeals for the Third Circuit pursuant to the opinion of the Supreme Court in Commissioner v. LoBue, 351 U. S. 243 (1956), rehearing denied 352 U. S. 859 (1956).
In our previous Opinion, reported at 22 T. C. 440 (1954), we held that certain options granted to petitioner LoBue to purchase the stock of his corporate employer did not constitute compensation to him, but were granted to give him a proprietary interest in the business. The facts pertinent here are, in brief, as follows: On January 18, 1945,…
2Cases cited4 opinions
- Commissioner v. LoBueSupreme Court of the United States · 1956
- Estate of Ogsbury v. CommissionerUnited States Tax Court · 1957
- Lo Bue v. CommissionerUnited States Tax Court · 1954
- Commissioner of Internal Revenue v. Philip J. Lo BueCourt of Appeals for the Third Circuit · 1955
3Cited by7 opinions
- George W. S. Swenson and Ruth E. Swenson v. Commissioner of Internal RevenueCourt of Appeals for the Eighth Circuit · 1962
- Swenson v. CommissionerUnited States Tax Court · 1961
- Commissioner of Internal Revenue v. Philip J. Lo BueCourt of Appeals for the Third Circuit · 1958
- George J. Becker and Isabelle Becker v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1967
- McNatt v. CommissionerUnited States Tax Court · 1962
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