Hopkinson v. Commissioner
United States Board of Tax Appeals
1. An agreement whereby a patentee "does grant, bargain, sell, convey, transfer, assign, set over and deliver" certain patent applications to a corporation in consideration of the latter's promise to pay over to the patentee amounts realized from the manufacture and sale of the patented products and from licensing agreements in respect of the patents, followed by recordation both of the general assignment and the individual assignments of each patent and patent application,…
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1. An agreement whereby a patentee "does grant, bargain, sell, convey, transfer, assign, set over and deliver" certain patent applications to a corporation in consideration of the latter's promise to pay over to the patentee amounts realized from the manufacture and sale of the patented products and from licensing agreements in respect of the patents, followed by recordation both of the general assignment and the individual assignments of each patent and patent application, held, to be contract for the sale of a capital asset, and moneys received thereunder by the seller and/or his assignee…
1Opinion of the Court
*583OPINION.
Leech:
The issues for decision are (1) whether payments, made under the contract between Hopkinson and the Eubber Co. and received by petitioner as beneficiary of the trust of which the contract formed the corpus, are ordinary income or capital gain in the hands of petitioner, and (2) whether payments made by the trustee for legal services are includable in petitioner’s net income under section 162 (b) of the Eevenue Act of 1934.
Petitioner contends that, since payments under the contract between her deceased husband, Ernest Hopkinson, and "United States Eubber Co. were capital gains as…
2Cases cited9 opinions
- Burnet v. LoganSupreme Court of the United States · 1931
- Helvering v. New York Trust Co.Supreme Court of the United States · 1934
- Littlefield v. PerrySupreme Court of the United States · 1875
- Helvering v. Elbe Oil Land Development Co.Supreme Court of the United States · 1938
- McFeely v. CommissionerSupreme Court of the United States · 1935
4 more not listed; retrieve them via the Exa API.
3Cited by15 opinions
- Chamberlin v. CommissionerUnited States Tax Court · 1959
- Kueneman v. CommissionerUnited States Tax Court · 1977
- Eterpen Financiera Sociedad De Responsabilidad Limitada v. United StatesUnited States Court of Claims · 1952
- Allen v. CommissionerUnited States Tax Court · 1975
- Bassett v. CommissionerUnited States Tax Court · 1961
10 more not listed; retrieve them via the Exa API.