Legal Opinion
Foster v. United States
Supreme Court of the United States
Decided January 31, 1938No. 189PublishedCited by 56 opinions
1Opinion of the CourtJustice Black
Petitioners’ right (as executors) to an income tax refund depends upon whether a dividend paid by the Foster Lumber Company in 1930 is tax exempt as representing corporate earnings accumulated before March 1, 1913. This dividend is taxable under the Revenue Act of 1928 1 if paid from earnings accumulated after 1913. The Court of Claims found the dividend taxable. 2
Petitioners contend that the 1930 dividend was traceable to the Company’s pre-1913 accumulations because its post-1913 earnings had been exhausted by a distribution in 1929. The circumstances of the 1929 distribution and the 1930…
2Cases cited9 opinions
- Eisner, Internal Revenue Collector v. MacOmberSupreme Court of the United States · 1919
- Old Colony Railroad v. CommissionerSupreme Court of the United States · 1932
- Doyle v. Mitchell Brothers Co.Supreme Court of the United States · 1918
- Southern Pacific Co. v. LoweSupreme Court of the United States · 1918
- Lynch v. HornbySupreme Court of the United States · 1918
4 more not listed; retrieve them via the Exa API.
3Cited by56 opinions
- United States v. American Trucking AssociationsSupreme Court of the United States · 1940
- Estate of Bongard v. Comm'rUnited States Tax Court · 2005
- J. C. Penney Co. v. CommissionerUnited States Tax Court · 1962
- Estate of Arthur Chase Shafer, Deceased, Chase Shafer, Co-Executor, and Resor Shafer, Co-Executor v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1984
- Associated Telephone and Telegraph Company, and Cross v. United States of America, and CrossCourt of Appeals for the Second Circuit · 1962
51 more not listed; retrieve them via the Exa API.