Legal Opinion
Edward Folker v. James W. Johnson, Individually and as a Former Collector of Internal Revenue
Court of Appeals for the Second Circuit
Decided February 29, 1956No. 23698PublishedCited by 41 opinions
1Opinion of the Court
WATERMAN, Circuit Judge.
During the year 1947 the plaintiff-appellant (taxpayer) was employed as president, treasurer, and director of Folker Fabrics Corp., of which he was the sole stockholder. He devoted his full time to his duties in these capacities and was responsible for the supervision and control of the activities of the corporation, receiving a salary of $52,000 in 1947 in compensation for his services. In the same year, it is conceded, the taxpayer had non-business losses of $19,-396.72. In this action taxpayer seeks a refund of 1945 income taxes by utilizing those 1947 non-business…
2Cases cited18 opinions
- Burnet v. ClarkSupreme Court of the United States · 1932
- Dalton v. BowersSupreme Court of the United States · 1932
- United States v. Gilbert Associates, Inc.Supreme Court of the United States · 1953
- Helvering v. Morgan's, Inc.Supreme Court of the United States · 1934
- Commissioner of Internal Revenue v. SmithCourt of Appeals for the Second Circuit · 1953
13 more not listed; retrieve them via the Exa API.
3Cited by41 opinions
- Whipple v. CommissionerSupreme Court of the United States · 1963
- Clement L. Hirsch v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1963
- John M. Trent and Lisa M. Trent v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1961
- Lloyd U. Noland, Jr., and Jane K. Noland v. Commissioner of Internal RevenueCourt of Appeals for the Fourth Circuit · 1959
- Beeson v. Fishkill Correctional FacilityDistrict Court, S.D. New York · 1998
36 more not listed; retrieve them via the Exa API.