Bishop & B. Mfg. Co. v. Commissioner
United States Board of Tax Appeals
Stock certificates issued by petitioner provided that the holders of prior preference stock would be entitled to receive, out of the surplus or net profits of the company, cumulative dividends at the rate of 6 percent before any dividends were paid on the preferred or common stock, and that the holders of preferred stock would be entitled to receive, out of the surplus or net profits of the company, cumulative dividends at the rate of 7 percent after payment of all…
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Stock certificates issued by petitioner provided that the holders of prior preference stock would be entitled to receive, out of the surplus or net profits of the company, cumulative dividends at the rate of 6 percent before any dividends were paid on the preferred or common stock, and that the holders of preferred stock would be entitled to receive, out of the surplus or net profits of the company, cumulative dividends at the rate of 7 percent after payment of all accumulated dividends on prior preference stock and before any dividends were paid on the common stock. Throughout the taxable…
1Opinion of the Court
THE BISHOP AND BABCOCK MANUFACTURING COMPANY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Bishop & B. Mfg. Co. v. Commissioner
Docket No. 101587.
United States Board of Tax Appeals
45 B.T.A. 776; 1941 BTA LEXIS 1070;
November 21, 1941, Promulgated
Stock certificates issued by petitioner provided that the holders of prior preference stock would be entitled to receive, out of the surplus or net profits of the company, cumulative dividends at the rate of 6 percent before any dividends were paid on the preferred or common stock, and that the holders of preferred stock would be entitled…
2Cases cited7 opinions
- Helvering v. Northwest Steel Rolling Mills, Inc.Supreme Court of the United States · 1940
- Lehigh Structural Steel Co. v. CommissionerUnited States Board of Tax Appeals · 1941
- Bishop & B. Mfg. Co. v. CommissionerUnited States Board of Tax Appeals · 1941
- Thibaut & Walker Co. v. CommissionerUnited States Board of Tax Appeals · 1940
- Atlas Supply Co. v. CommissionerUnited States Board of Tax Appeals · 1941
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