Colorado Life Co. v. Commissioner
United States Board of Tax Appeals
Where an insurance company issues its stock for sufficient cash consideration to enable it to deposit paid-in capital as a condition precedent to receiving a license to transact business, and afterwards redeems such stock at a price in excess of the amount for which it was issued, such excess must be regarded as a dividend incident to the redemption of the stock.
1Opinion of the Court
COLORADO LIFE COMPANY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Colorado Life Co. v. Commissioner
Docket No. 68355.
United States Board of Tax Appeals
29 B.T.A. 950; 1934 BTA LEXIS 1455;
January 30, 1934, Promulgated
Where an insurance company issues its stock for sufficient cash consideration to enable it to deposit paid-in capital as a condition precedent to receiving a license to transact business, and afterwards redeems such stock at a price in excess of the amount for which it was issued, such excess must be regarded as a dividend incident to the redemption of the stock.
R.…
2Cases cited1 opinion
- Colorado Life Co. v. CommissionerUnited States Board of Tax Appeals · 1934