Glen O'Brien Movable Partition Co. v. Commissioner
United States Tax Court
Upon consideration of the agreement between petitioner and Yawata Econ Steel Co., a Japanese corporation, it is: Held, that there was a sale by petitioner of certain patent rights entitling petitioner to long-term capital gains treatment. Held, further: That petitioner retained a substantial right in its know-how transferred under the agreement. Allocation made.
1Opinion of the Court
Forrester, Judge:
Respondent has determined a deficiency in petitioner’s Federal income tax for its fiscal year ended July 31, 1971, in the amount of $4,115.44. Concessions having been made, the only issue remaining for our decision is whether a $25,000 payment made to petitioner by a foreign corporation was paid for the transfer of petitioner’s Japanese patent rights and other property and, if so, whether such transfer constituted a sale so that such amount, less sales expenses, should be treated as capital gains.
FINDINGS OF FACT
Some of the facts have been stipulated and are so found.
Petitione…
2Cases cited11 opinions
- Waterman v. MacKenzieSupreme Court of the United States · 1891
- Dreymann v. Comm'rUnited States Tax Court · 1948
- Bell Intercontinental Corporation v. The United StatesUnited States Court of Claims · 1967
- PPG Indus., Inc. v. CommissionerUnited States Tax Court · 1970
- James H. Pickren and Lucie B. Pickren v. United StatesCourt of Appeals for the Fifth Circuit · 1967
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3Cited by15 opinions
- Green v. Comm'rUnited States Tax Court · 1984
- Ofria v. CommissionerUnited States Tax Court · 1981
- Common Cause v. CommissionerUnited States Tax Court · 1999
- Schulze v. Comm'rUnited States Tax Court · 1980
- Weimer v. CommissionerUnited States Tax Court · 1987
10 more not listed; retrieve them via the Exa API.