Legal Opinion
Ackerson v. United States
District Court, W.D. Kentucky
Decided September 27, 1967No. Civ. A. 5079PublishedCited by 5 opinions
1Opinion of the Court
MEMORANDUM
BROOKS, Chief Judge.
The question presented in this action for a tax refund concerns the characterization of amounts advanced to a newly formed corporation which were subsequently repaid. Internal Revenue determined that the amount advanced was equity investment the repayment of which constituted a dividend. The taxpayer contends that the amount in question is a loan and, therefore, the repayment of principal is not taxable as income. The question of whether amounts advanced to a corporation constitute equity or indebtedness is one of fact determined by the surrounding circumstances.…
2Cases cited11 opinions
- Gooding Amusement Co. v. CommissionerUnited States Tax Court · 1954
- Sun Properties, Inc. v. United StatesCourt of Appeals for the Fifth Circuit · 1955
- O. H. Kruse Grain & Milling v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1960
- Aqualane Shores, Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1959
- Gazette Tel. Co. v. CommissionerUnited States Tax Court · 1953
6 more not listed; retrieve them via the Exa API.
3Cited by5 opinions
- Casco Bank & Trust Co. v. United StatesCourt of Appeals for the First Circuit · 1976
- Plantation Patterns, Inc. v. CommissionerUnited States Tax Court · 1970
- Bordo Products Co. v. United StatesUnited States Court of Claims · 1973
- Estate of Leavitt v. CommissionerUnited States Tax Court · 1988
- Estate of Leavitt v. CommissionerUnited States Tax Court · 1988