Quinn v. McLendon
Supreme Court of Arkansas
Appeal from Cleveland Chancery Court; John M. Elliott, Chancellor; STATEMENT OF FACTS. Appellant brought this suit in equity against appellees to recover from them their proportionate part of the income in excess profit taxes, which he alleges are due, because lie lias paid the same to the United States, for a corporation of which they were all stockholders.
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Appeal from Cleveland Chancery Court; John M. Elliott, Chancellor; STATEMENT OF FACTS. Appellant brought this suit in equity against appellees to recover from them their proportionate part of the income in excess profit taxes, which he alleges are due, because lie lias paid the same to the United States, for a corporation of which they were all stockholders. According to the allegations of the complaint, in January, 1917, appellant and appellees organized the Sand Creek Land & Timber Company, with its principal office at Bison, Ark. The authorized capital stock of said corporation was ten…
1Opinion of the Court
Hart, J\,
(after stating the'facts). It is true, as contended by appellant, that the corporation itself was liable for the income and excess profit taxes due by it to the United States by reason of the sale of its timber in August, 1917, and the 'Government had a lien upon the property of the corporation for the amount of said taxes. It is also true that the attempted surrender of the charter of the corporation by some of the stockholders in December, 1917, was null and void because the resolution-was 'adopted at a special meeting of which appellant had not been notified, and at which he was…
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