Howe v. Commissioner
United States Tax Court
Net worth of decedent's business which passed at his death to an employee pursuant to an agreement for the latter's compensation, held accruable by decedent as a business expense deduction, since it did not accrue "only by reason of" his death under section 43, Internal Revenue Code.
1Opinion of the Court
OPINION.
Opper, Judge:
Petitioner challenges respondent’s determination of an income tax deficiency of the decedent in the amount of $23,-543.12 for the taxable period January 1, 1944, to December 5, 1944. Certain adjustments are not contested. The sole issue is whether section 43, Internal Revenue Code, prohibits a deduction from decedent’s gross income for compensation in the amount of the value of decedent’s entire business, which passed upon his death to an employee pursuant to agreement. All of the facts were stipulated.
The stipulated facts are hereby found accordingly and may be…
2Cases cited6 opinions
- Lucas v. Ox Fibre Brush Co.Supreme Court of the United States · 1930
- Klein v. United StatesSupreme Court of the United States · 1931
- Helvering v. Estate of EnrightSupreme Court of the United States · 1941
- United States v. Ogilvie Hardware Co.Supreme Court of the United States · 1947
- Estate of HoweCalifornia Supreme Court · 1948
1 more not listed; retrieve them via the Exa API.
3Cited by7 opinions
- Finch v. CommissionerUnited States Tax Court · 1955
- Southern Coast Corp. v. CommissionerUnited States Tax Court · 1951
- Estate of Finch v. CommissionerUnited States Tax Court · 1955
- Finch v. CommissionerUnited States Tax Court · 1955
- Howe v. CommissionerUnited States Tax Court · 1951
2 more not listed; retrieve them via the Exa API.