Falk v. Wisconsin Tax Commission

Upon various dates, all prior to January 1, 1911, Charles F. Pfister, in his lifetime, acquired 3,000 shares of the capital stock of the Sentinel Company at a cost of $471,310. In 1924 the executors of his estate sold the stock for $131,901.04 less than Mr. Pfister paid for it. The assessor of incomes, however, found that the value of the stock on January 1, 1911, was $114,408.96 less than it was sold for, and the board of review found that on that date its value was $39,408.96 less than it was sold for, and the additional income tax complained of is upon the latter amount. The contention is…