Collins v. Kentucky Tax Commission

COMBS, Justice.

The judgment sustains an income tax assessment made by the Kentucky Tax Commission against fhe taxpayer, Mrs. Christine H. Collins, individually and as executrix of the estate of her deceased husband, George C. Collins, Jr.

The facts are stipulated. The partnership of Collins & Newman, composed of Christine H. Collins, her husband, George C. Collins, Jr., and Mr. and Mrs. L. J. Newman, held 42,094 shares of common stock of the par value of $1 per share in the Cummins Distilleries Corporation at the time of its dissolution. Some of the stock had been held by the partnership…