McKitterick v. Commissioner
United States Board of Tax Appeals
1. Respondent's determination of value at which blocks of stock and warrants owned by decedent on the date of his death should be included in his estate for estate tax purposes is sustained. 2. A sum of money paid to the executrix of decedent as a bonus for services rendered by him to a corporation for the period of the year ending with his death is includable in his gross estate.
1Opinion of the Court
*136OPINION.
Leech :
Respondent included in decedent’s estate, under the lie venue Act Ojf 1926, section 302, 34,902 shares of Philip Morris stock and 34,780 warrants, at the respective per unit values of $91% and $10%, as of August 15,1936, the date of decedent’s death. The stock of this company was listed on the New York Stock Exchange before, during, and after 1936, and the warrants were listed from July 27 to August 17, 1936. The values of decedent’s stock and warrants, as determined by respondent, were the mean unit market prices thereof, as reflected by actual sales on that Exchange on the…
2Cases cited2 opinions
- Ithaca Trust Co. v. United StatesSupreme Court of the United States · 1929
- Gannon v. . McGuireNew York Court of Appeals · 1899
3Cited by30 opinions
- Frank v. CommissionerUnited States Tax Court · 1970
- Morris v. CommissionerUnited States Tax Court · 1978
- White Farm Equipment Co. v. CommissionerUnited States Tax Court · 1973
- Schnorbach v. KavanaghDistrict Court, W.D. Michigan · 1951
- Zanuck v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1945
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