Nelson v. Commissioner
United States Tax Court
Distribution of cash by corporation to petitioners constituted payment of a taxable dividend and not repayment of a loan.
1Opinion of the Court
OPINION.
Arundell, Judge:
The question before us is whether the sum of $17,960.49, distributed by the Wood Company to its stockholders in 1946, constituted a dividend or repayment of a loan. In support of their contention that the distribution constituted repayment of a loan, the petitioners allege that this sum, plus approximately $2,400 which is not in issue, was loaned to the Wood Company by its organizers in 1937 upon incorporation.
The incorporation of the Wood Company in 1937 followed the dissolution of a partnership composed of its three organizers, R. E. Nelson, Gordon H. Wood, and W. H.…
2Cases cited7 opinions
- Commissioner v. Lane-Wells Co.Supreme Court of the United States · 1944
- Schnitzer v. CommissionerUnited States Tax Court · 1949
- Dobkin v. CommissionerUnited States Tax Court · 1950
- Janeway v. CommissionerUnited States Tax Court · 1943
- Woody v. CommissionerUnited States Tax Court · 1952
2 more not listed; retrieve them via the Exa API.
3Cited by53 opinions
- American Properties, Inc. v. CommissionerUnited States Tax Court · 1957
- Conlorez Corp. v. CommissionerUnited States Tax Court · 1968
- Segel v. CommissionerUnited States Tax Court · 1987
- Pachella v. CommissionerUnited States Tax Court · 1961
- Hill v. CommissionerUnited States Tax Court · 1974
48 more not listed; retrieve them via the Exa API.