Keister v. Commissioner
United States Board of Tax Appeals
1. A stock dividend paid in nonvoting common stock to the holders of voting common stock and nonvoting common stock is a taxable dividend to the holders of voting common stock. 2. A stock dividend paid in nonvoting 7 percent preferred stock to the holders of voting common stock and to the holders of nonvoting common stock is a taxable dividend to both classes of stockholders. Koshland v. Helvering,298 U.S. 441.
1Opinion of the Court
JOHN M. KEISTER, PETITIONER, 1v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Keister v. Commissioner
Docket Nos. 98452, 98564-98568.
United States Board of Tax Appeals
42 B.T.A. 484; 1940 BTA LEXIS 998;
August 6, 1940, Promulgated
1. A stock dividend paid in nonvoting common stock to the holders of voting common stock and nonvoting common stock is a taxable dividend to the holders of voting common stock.
2. A stock dividend paid in nonvoting 7 percent preferred stock to the holders of voting common stock and to the holders of nonvoting common stock is a taxable dividend to both classes of…
2Cases cited9 opinions
- Eisner v. MacOmberSupreme Court of the United States · 1920
- United States v. PhellisSupreme Court of the United States · 1921
- Koshland v. HelveringSupreme Court of the United States · 1936
- Marr v. United StatesSupreme Court of the United States · 1925
- Cullinan v. Walker, Collector of Internal RevenueSupreme Court of the United States · 1923
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