Baker v. Commissioner
United States Board of Tax Appeals
In 1926 the decedent received $665,000 dividends from the New Jersey General Security Co. Held, that the entire amount received constituted taxable dividends.
1Opinion of the Court
*710OPINION.
Smith :
The question presented by this proceeding is whether the decedent is liable to income tax in respect of the entire amount of $665,000 received by him in 1926 as dividends from the New Jersey General Security Co. The petitioner admits that the dividends are taxable to the extent of 61.098 percent of the amount thereof, but claims that the balance represented a return of capital and hence is not taxable.
In so far as material to our determination the statute and regulations are as follows:
Sec. 201. (a) The term “dividend” when used in this title (except in paragraph (9) of…
2Cases cited2 opinions
- James v. CommissionerUnited States Board of Tax Appeals · 1928
- McLean v. CommissionerUnited States Board of Tax Appeals · 1926
3Cited by9 opinions
- Crocker v. CommissionerUnited States Board of Tax Appeals · 1934
- Mente & Co. v. CommissionerUnited States Board of Tax Appeals · 1934
- Carey v. CommissionerUnited States Board of Tax Appeals · 1934
- Ayer v. CommissionerUnited States Board of Tax Appeals · 1938
- Baker v. CommissionerUnited States Board of Tax Appeals · 1933
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