Hard v. Commissioner
United States Tax Court
The decedent was sole shareholder of a Mexican commercial corporation which owned only real estate situated in Mexico. In 1934 the Mexican Commercial Code was amended to provide that any commercial corporation upon becoming owned by less than five shareholders was dissolved.
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The decedent was sole shareholder of a Mexican commercial corporation which owned only real estate situated in Mexico. In 1934 the Mexican Commercial Code was amended to provide that any commercial corporation upon becoming owned by less than five shareholders was dissolved. A liquidation procedure was prescribed, projecting the juridical personality of the corporation through the liquidation period and requiring the intervention of a liquidator for winding up the corporate affairs and making final distribution of remaining assets to shareholders. At decedent's death no liquidation had been…
1Opinion of the Court
Estate of James M. B. Hard, Deceased, Chemical Bank & Trust Company and Henry von L. Meyer, Executors, Petitioner, v. Commissioner of Internal Revenue, Respondent
Hard v. Commissioner
Docket No. 8723
United States Tax Court
9 T.C. 57; 1947 U.S. Tax Ct. LEXIS 153;
July 14, 1947, Promulgated
Decision will be entered under Rule 50.
The decedent was sole shareholder of a Mexican commercial corporation which owned only real estate situated in Mexico. In 1934 the Mexican Commercial Code was amended to provide that any commercial corporation upon becoming owned by less than five shareholders was dissolved.…
2Cases cited3 opinions
- Anderson v. WilsonSupreme Court of the United States · 1933
- Brinckerhoff v. CommissionerUnited States Tax Court · 1947
- Hard v. CommissionerUnited States Tax Court · 1947