Legal Opinion
Estate of Willett v. Commissioner
Court of Appeals for the Fifth Circuit
Decided July 29, 1966No. 21971PublishedCited by 6 opinions
1Opinion of the Court
WISDOM, Circuit Judge:
The narrow question for decision is whether the incorporation of a proprietorship that has previously made an election to be taxed as a corporation, under Section 1361 of the Internal Revenue Code,1 is a taxable event, under Treasury Regulation Section 1.1361-5 (b). We hold that it is not a taxable event. The regulation must yield to Congressional intent to protect unwary small businessmen from just such a tax.
J. O. Willett, the taxpayer, now deceased, was the sole owner of the “J. O. (Red) Willett Pipeline Stringing Co.,” a small business performing services for the oil…
2Cases cited5 opinions
- Commissioner v. South Texas Lumber Co.Supreme Court of the United States · 1948
- Commissioner v. AckerSupreme Court of the United States · 1959
- Estate of Wein v. CommissionerUnited States Tax Court · 1963
- Estate of David Wein, Deceased, and Estate of Edith Wein, Deceased, Sidney Wein v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1964
- Estate of Willett v. CommissionerUnited States Tax Court · 1964
3Cited by6 opinions
- United States v. California Portland Cement Co.Court of Appeals for the Ninth Circuit · 1969
- Estate Of J. O. Willett, DeceasedCourt of Appeals for the Fifth Circuit · 1966
- Edward J. Prescott and Wanda D. Prescott v. Commissioner of Internal Revenue, L. W. Simpson and Shirley Simpson v. United StatesCourt of Appeals for the Eighth Circuit · 1977
- Prescott v. CommissionerUnited States Tax Court · 1976
- O'Dowd v. CommissionerUnited States Tax Court · 1976
1 more not listed; retrieve them via the Exa API.