Legal Opinion
United States v. Byron Sash & Door Co.
Court of Appeals for the Sixth Circuit
Decided June 18, 1945No. 9862PublishedCited by 11 opinions
1Opinion of the Court
McAllister, circuit judge.
In 1929, the Byron Sash & Door Company, with outstanding capital stock of $140,000, had surplus and undivided profits of $145,090.93, from which, on December 11, 1929, it paid a cash dividend of $12,000. At the same time, it transferred $130,000 to the capital account, leaving a surplus of $3,090.93. Shortly thereafter, on April 2, 1930, it distributed a stock dividend of $130,000. In the subsequent seven years, it incurred operating losses of $69,945, which wiped out its surplus of $3,090.93 and resulted in impairment of its capital in the amount of $66,855.04, as…
2Cases cited6 opinions
- Eisner v. MacOmberSupreme Court of the United States · 1920
- Eisner, Internal Revenue Collector v. MacOmberSupreme Court of the United States · 1919
- Century Electric Co. v. CommissionerCourt of Appeals for the Eighth Circuit · 1944
- Century Electric Co. v. CommissionerUnited States Tax Court · 1944
- Haggard v. Lexington Utilities Co.Court of Appeals of Kentucky (pre-1976) · 1935
1 more not listed; retrieve them via the Exa API.
3Cited by11 opinions
- United States v. Ogilvie Hardware Co.Supreme Court of the United States · 1947
- Owensboro Wagon Co. v. CommissionerUnited States Tax Court · 1952
- Owensboro Wagon Co. v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1954
- United States v. Ogilvie Hardware Co.Court of Appeals for the Fifth Circuit · 1946
- Ogilvie Hardware Co. v. United StatesDistrict Court, W.D. Louisiana · 1945
6 more not listed; retrieve them via the Exa API.