Legal Opinion
R. M. Smith, Inc. v. Commissioner of Internal Revenue
Court of Appeals for the Third Circuit
Decided January 26, 1979No. 78-1442PublishedCited by 32 opinions
1Opinion of the Court
OPINION OF THE COURT
ROSENN, Circuit Judge.
The issues raised on this appeal reflect some of the subtle tax hazards lurking in corporate liquidations. The issues turn on the application of section 334(b)(2) of the Internal Revenue Code of 1954, 26 U.S.C. § 334(b)(2) (1976), dealing with the basis of property received in liquidation of a subsidiary. Section 334(b)(2) provides that “[i]f property is received by a corporation in a distribution in complete liquidation of another corporation,” and if certain requirements are met, “then the basis of the property in the hands of the distributee shall…
2Cases cited9 opinions
- Commissioner v. DubersteinSupreme Court of the United States · 1960
- Helvering v. TaylorSupreme Court of the United States · 1935
- Jack Daniel Distillery, Lem Motlow, Prop., Inc. v. The United StatesUnited States Court of Claims · 1967
- Plantation Patterns, Incorporated v. Commissioner of Internal Revenue, John S. Jemison, Jr. And Marie S. Jemison v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1972
- Plantation Patterns, Inc. v. CommissionerUnited States Tax Court · 1970
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3Cited by32 opinions
- Washington Mutual, Inc. v. United StatesCourt of Appeals for the Ninth Circuit · 2017
- Banc One Corp. v. CommissionerUnited States Tax Court · 1985
- Solitron Devices, Inc. v. CommissionerUnited States Tax Court · 1983
- UFE, Inc. v. CommissionerUnited States Tax Court · 1989
- Tele-Communications v. CommissionerUnited States Tax Court · 1990
27 more not listed; retrieve them via the Exa API.