Cortez Oil Co. v. Commissioner
United States Board of Tax Appeals
Where a corporation organized under the laws of Oklahoma owned a majority of the stock of another corporation, also organized under the laws of Oklahoma, and actually voted through its own officer such stock at stockholders' meetings, held that the minority stockkholders did not own or control substantially all the stock of the second corporation by reason of the provisions of section 49 of article 9 of the Constitution of Oklahoma.
1Opinion of the Court
*466OPINION.
Phillips:
Petitioner contends that Alvarado and Balboa were affiliated with it during the period January 1, 1919, to August 24, 1919, within the meaning of section 240 (b) of the Revenue Act of 1918, which provides:
For tlie purpose of tliis section two or more domestic corporations 'shall be deemed to be affiliated (1) if one corporation owns directly or controls through closely affiliated interests or by a nominee or nominees substantially all the stock of the other or others, or (2) if substantially all the stock of two or more corporations is owned or controlled by the same…
2Cases cited9 opinions
- National Bank v. MatthewsSupreme Court of the United States · 1879
- Whitney v. WymanSupreme Court of the United States · 1880
- National Bank v. WhitneySupreme Court of the United States · 1881
- Scott v. DeweeseSupreme Court of the United States · 1901
- St. Louis, Vandalia & Terre Haute Railroad v. Terre Haute & Indianapolis RailroadSupreme Court of the United States · 1892
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3Cited by4 opinions
- Rudolph Wurlitzer Co. v. CommissionerUnited States Board of Tax Appeals · 1933
- Cortez Oil Co. v. CommissionerUnited States Board of Tax Appeals · 1930
- Gould v. CommissionerUnited States Board of Tax Appeals · 1930
- Rudolph Wurlitzer Co. v. CommissionerUnited States Board of Tax Appeals · 1933