Riesman v. Commissioner of Corporations & Taxation

This is an appeal from a decision of the Appellate Tax Board denying the abatement of an additional tax assessed upon income alleged to have been received in 1947 by the appellant.

The taxpayer, a resident of this Commonwealth, as stockholder in a foreign corporation received in 1947 upon the liquidation of the corporation a conveyance of an undivided interest in certain real estate of the corporation proportionate to the amount of his stock. This real estate was located in Rhode Island. It represented the accumulated profits of the corporation. The interest conveyed to the taxpayer had a…