Legal Opinion
W. B. Rushing v. Commissioner of Internal Revenue
Court of Appeals for the Fifth Circuit
Decided April 19, 1971No. 30151PublishedCited by 116 opinions
1Opinion of the Court
GOLDBERG, Circuit Judge.
Here we exhume a transaction which in the government’s post mortem analysis imposes a different tax consequence than that asserted by the taxpayers.
The taxpayers, W. B. Rushing and Max Tidmore, 1 each owned 50 percent of the stock in two corporations. In 1962 the taxpayers as directors voted to adopt a plan of liquidation for both corporations in accordance with the provisions of Internal Revenue Code § 337. 2 Short ly after the decision to liquidate, substantially all of the assets of both corporations were sold. Immediately before the end of the statutory twelve…
2Cases cited9 opinions
- Gregory v. HelveringSupreme Court of the United States · 1935
- Corliss v. BowersSupreme Court of the United States · 1930
- Griffiths v. CommissionerSupreme Court of the United States · 1939
- Rushing v. CommissionerUnited States Tax Court · 1969
- H. O. Williams and Mrs. Ada L. Williams v. United StatesCourt of Appeals for the Fifth Circuit · 1955
4 more not listed; retrieve them via the Exa API.
3Cited by116 opinions
- Palmer v. CommissionerUnited States Tax Court · 1974
- Charles A. Sammons, Individually, and Estate of Rosine S. Sammons, Deceased, Charles A. Sammons, Independent v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1973
- Ross Glove Co. v. CommissionerUnited States Tax Court · 1973
- James and Martha Kuper and Charles and Kathleen Kuper, Cross-Appellees v. Commissioner of Internal Revenue, Cross-AppellantCourt of Appeals for the Fifth Circuit · 1976
- Rapid Electric Co. v. CommissionerUnited States Tax Court · 1973
111 more not listed; retrieve them via the Exa API.