Miller v. Commissioner
United States Tax Court
Held, a sale of goodwill occurred during 1959, the year in which petitioner Charles M. Miller (Charles) sold his city directory business to petitioner Southern Directory Co., Inc. (Southern), a corporation controlled by Charles.
Read the full summary
Held, a sale of goodwill occurred during 1959, the year in which petitioner Charles M. Miller (Charles) sold his city directory business to petitioner Southern Directory Co., Inc. (Southern), a corporation controlled by Charles. Held, further, the yearly payments made to Charles as a result of the above sale were taxable as capital gain to the extent received prior to Aug. 21, 1965. Held, further, the Aug. 21, 1965, agreement between Charles and the Mullin-Kille Co. constituted a breach by Charles of a covenant not to compete which had been made during 1959 as an adjunct to the above sale of…
1Opinion of the Court
IRWIN, Judge:
Respondent determined deficiencies in petitioners’ income tax for the following years:
Petitioner Year Deficiency
1964 $4, 865. 68
1965 4, 484. 26 Charles W. and Mary H. Miller.
1966 13, 920. 89
1965 6, 199. 59 1966 2, 542. 96 Southern Directory Co., Inc
Certain concessions having been made by the parities, the only issues remaining for decision are:(1) Whether amounts received by petitioners Charles W. and Mary T-T- Miller during the years 1964, 1965, and 1966 were taxable as ordinary income, as opposed to capital gain from the sale of goodwill ; and(2) Whether petitioner Southern…
2Cases cited20 opinions
- Commissioner v. Court Holding Co.Supreme Court of the United States · 1945
- Moline Properties, Inc. v. CommissionerSupreme Court of the United States · 1943
- Michaels v. CommissionerUnited States Tax Court · 1949
- Baird v. CommissionerUnited States Tax Court · 1955
- Williams v. McGowanCourt of Appeals for the Second Circuit · 1945
15 more not listed; retrieve them via the Exa API.
3Cited by19 opinions
- VGS Corp. v. CommissionerUnited States Tax Court · 1977
- Lucas v. CommissionerUnited States Tax Court · 1972
- Solitron Devices, Inc. v. CommissionerUnited States Tax Court · 1983
- Wilmot Fleming Engineering Co. v. CommissionerUnited States Tax Court · 1976
- Proctor v. CommissionerUnited States Tax Court · 1981
14 more not listed; retrieve them via the Exa API.