Carter v. Oxford
Court of Appeals of Georgia
1Opinion of the Court
Townsend, Judge.
When the first Georgia income tax act was enacted in 1931 (Ga. L. 1931, Ex. Sess., p. 41) it was provided in Code § 92-3120 (d): “The distribution to the taxpayer of the assets of a corporation shall be treated as a sale of the stock or securities of the corporation owned by him, and the gain or loss shall be computed accordingly.” This left no doubt but that, when a corporation was dissolved, its assets, including accumulated earned surplus retained over the life of the corporation, which was exchanged for stock on dissolution constituted a sale and not a dividend. However…
Also in this document: Concurrence.
2Cases cited7 opinions
- Lynch v. HornbySupreme Court of the United States · 1918
- Patten v. MillerSupreme Court of Georgia · 1940
- State of Georgia v. CampSupreme Court of Georgia · 1939
- Stegall v. ThurmanDistrict Court, N.D. Georgia · 1910
- Brinkley v. Dixie Construction Co.Supreme Court of Georgia · 1949
2 more not listed; retrieve them via the Exa API.
3Cited by7 opinions
- Schrenko v. DeKalb County School DistrictSupreme Court of Georgia · 2003
- Oxford v. CarterSupreme Court of Georgia · 1961
- Oxford v. ChanceCourt of Appeals of Georgia · 1961
- Chilivis v. Cleveland Electric Co. of Georgia, Inc.Court of Appeals of Georgia · 1977
- Carter v. OxfordCourt of Appeals of Georgia · 1960
2 more not listed; retrieve them via the Exa API.