Hudson v. Commissioner
United States Board of Tax Appeals
The Hudson & Dugger Co., by resolution of its board of directors, ordered that the accounts of its stockholders be credited with amounts equal to the debit balances due and owing from the stockholders by charges against surplus, but further provided that the stockholders at such time as might be "convenient and appropriate" would make proper settlement of the accounts.
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The Hudson & Dugger Co., by resolution of its board of directors, ordered that the accounts of its stockholders be credited with amounts equal to the debit balances due and owing from the stockholders by charges against surplus, but further provided that the stockholders at such time as might be "convenient and appropriate" would make proper settlement of the accounts. Held, that the action taken effected the declaration and payment of a dividend within the meaning of section 115(a) of the Revenue Act of 1928.
1Opinion of the Court
KATE HUDSON, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
KATE HUDSON, TRUSTEE FOR MARIE HUDSON, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
GALVIN HUDSON, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Hudson v. Commissioner
Docket Nos. 69723-69725.
United States Board of Tax Appeals
34 B.T.A. 155; 1936 BTA LEXIS 738;
March 20, 1936, Promulgated
The Hudson & Dugger Co., by resolution of its board of directors, ordered that the accounts of its stockholders be credited with amounts equal to the debit balances due and owing from the stockholders by charges…
2Cases cited8 opinions
- Cornell Steamboat Company v. John J. Coughlin and J. C. Davis, Director General of Railroads, EtcSupreme Court of the United States · 1927
- Security First Nat'l Bank v. CommissionerUnited States Board of Tax Appeals · 1933
- Cohen v. CommissionerUnited States Board of Tax Appeals · 1933
- Joseph Goodnow & Co. v. CommissionerUnited States Board of Tax Appeals · 1927
- Lincoln National Bank v. CommissionerUnited States Board of Tax Appeals · 1931
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