Legal Opinion
Myron's Enterprises v. United States
Court of Appeals for the Ninth Circuit
Decided January 10, 1977No. Nos. 74-3478, 74-3479, 75-1194 and 75-1195PublishedCited by 2 opinions
1Opinion of the Court
SNEED, Circuit Judge:
Taxpayer-corporations sued in district court below for a refund of accumulated earnings taxes imposed by the Commissioner.1 The Commissioner had based the tax on his determination that for taxpayers’ fiscal years 1966 through 1968 the reasonable needs of the business stemmed entirely from working capital needs and never exceeded $21,272. The taxpayers contended that their retained earnings for the years in question of $316,000, $374,316, and $415,766 respectively were needed to cover both working capital requirements of $100,000 and the planned purchase and remodeling of…
2Cases cited10 opinions
- The Smoot Sand & Gravel Corporation v. Commissioner of Internal RevenueCourt of Appeals for the Fourth Circuit · 1957
- I. A. Dress Co., Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1960
- Magic Mart, Inc. v. CommissionerUnited States Tax Court · 1969
- General Smelting Co. v. CommissionerUnited States Tax Court · 1944
- Henry Van Hummell, Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Tenth Circuit · 1966
5 more not listed; retrieve them via the Exa API.
3Cited by2 opinions
- Fruehauf Corp. v. Sherman (In Re Gringeri Bros. Transportation Co.)United States Bankruptcy Court, D. Massachusetts · 1981
- Myron's Enterprises, a Corporation, Plaintiff-Appellant-Cross-Appellee v. United States of America, Cross-Appellant. Myron's Ballroom, a Corporation, Plaintiff-Appellant-Cross-Appellee v. United States of America, Defendant-Appellee-Cross-AppellantCourt of Appeals for the Ninth Circuit · 1977