Romy Hammes, Inc. v. Commissioner
United States Tax Court
In 1968 four active corporations, A, B, C, and D merged into a fifth active corporation, P. The premerger corporations engaged in disparate and nonintegrated business activities which activities were continued as separate divisions of the postmerger corporation.
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In 1968 four active corporations, A, B, C, and D merged into a fifth active corporation, P. The premerger corporations engaged in disparate and nonintegrated business activities which activities were continued as separate divisions of the postmerger corporation. The premerger and postmerger corporations had one common shareholder, but there was a significant difference in the shareholders and their proprietary interests among the premerger corporations and between the premerger and postmerger corporations. The postmerger corporation sustained a net operating loss during 1970 due to a business…
1Opinion of the Court
Wilbur, Judge:
Respondent has determined a deficiency in petitioner’s Federal income tax for the taxable year 1967 in the amount of $19,210.85. The issue for decision is whether petitioner, as successor by merger, is entitled to carry back a portion of its net operating loss to the 1967 premerger income of Romy Hammes, Inc., an Illinois corporation. The resolution of this issue depends largely on whether the mul-ticorporate merger in 1967, of which petitioner is the surviving corporation, qualified as a reorganization under the provisions of section 368(a)(1)(F).1
FINDINGS OF FACT
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2Cases cited18 opinions
- Welch v. HelveringSupreme Court of the United States · 1933
- United States v. PhellisSupreme Court of the United States · 1921
- Libson Shops, Inc., v. Koehler, District Director of Internal RevenueSupreme Court of the United States · 1957
- Marr v. United StatesSupreme Court of the United States · 1925
- J. E. Davant and Kathryn Davant v. Commissioner of Internal Revenue, Commissioner of Internal Revenue v. J. E. Davant and Kathryn DavantCourt of Appeals for the Fifth Circuit · 1966
13 more not listed; retrieve them via the Exa API.
3Cited by10 opinions
- Mariani Frozen Foods, Inc. v. CommissionerUnited States Tax Court · 1983
- Role v. CommissionerUnited States Tax Court · 1978
- National Tea Co. v. CommissionerUnited States Tax Court · 1984
- National Tea Co. v. CommissionerCourt of Appeals for the Seventh Circuit · 1986
- Cannonsburg Skiing Corp. v. CommissionerUnited States Tax Court · 1986
5 more not listed; retrieve them via the Exa API.