Crossett Western Co. v. Commissioner
United States Board of Tax Appeals
1. The petitioner and the Gales Creek Logging Company were incorporated prior to the year 1924. During that year the Gales Creek Logging Company's outstanding voting stock was held as follows: 72.701 per cent by petitioner, 21.482 per cent by 11 of petitioner's 28 stockholders, and 5.817 per cent by outsiders.
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1. The petitioner and the Gales Creek Logging Company were incorporated prior to the year 1924. During that year the Gales Creek Logging Company's outstanding voting stock was held as follows: 72.701 per cent by petitioner, 21.482 per cent by 11 of petitioner's 28 stockholders, and 5.817 per cent by outsiders. Held, the two companies were not affiliated. 2. Respondent denied a request that the accounts of the two companies be consolidated for the year 1924. Held, no error. 3. The two companies became affiliated on November 15, 1928. Held, under the Revenue Act of 1928 the periods January 1 to…
1Opinion of the Court
CROSSETT WESTERN COMPANY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Crossett Western Co. v. Commissioner
Docket Nos. 46278, 63823.
United States Board of Tax Appeals
27 B.T.A. 258; 1932 BTA LEXIS 1096;
December 8, 1932, Promulgated
1. The petitioner and the Gales Creek Logging Company were incorporated prior to the year 1924. During that year the Gales Creek Logging Company's outstanding voting stock was held as follows: 72.701 per cent by petitioner, 21.482 per cent by 11 of petitioner's 28 stockholders, and 5.817 per cent by outsiders. Held, the two companies were not…
2Cases cited1 opinion
- Crossett Western Co. v. CommissionerUnited States Board of Tax Appeals · 1932