Davis v. Commissioner
United States Tax Court
Petitioner Edwin D. Davis, an orthopedic surgeon, organized two corporations for performing the X-ray services and physical therapy services formerly performed by his employees. He made gifts of 90 percent of the stock of each corporation to his three minor children. The corporations and shareholders properly elected to be taxed as small business corporations under subch.
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Petitioner Edwin D. Davis, an orthopedic surgeon, organized two corporations for performing the X-ray services and physical therapy services formerly performed by his employees. He made gifts of 90 percent of the stock of each corporation to his three minor children. The corporations and shareholders properly elected to be taxed as small business corporations under subch. S. The separate identities of the proprietorship medical practice and the corporations were maintained except for minor items. Held, the income earned by the corporations is not taxable to petitioner under sec. 61, I.R.C.…
1Opinion of the Court
Edwin D. Davis, Petitioner v. Commissioner of Internal Revenue, Respondent; Edwin D. Davis and Sandra W. Davis, Petitioners v. Commissioner of Internal Revenue, Respondent
Davis v. Commissioner
Docket Nos. 8665-71, 8666-71
United States Tax Court
64 T.C. 1034; 1975 U.S. Tax Ct. LEXIS 69;
September 11, 1975, Filed
Decisions will be entered under Rule 155.
Petitioner Edwin D. Davis, an orthopedic surgeon, organized two corporations for performing the X-ray services and physical therapy services formerly performed by his employees. He made gifts of 90 percent of the stock of each corporation to his…
2Cases cited16 opinions
- Gregory v. HelveringSupreme Court of the United States · 1935
- Commissioner v. SunnenSupreme Court of the United States · 1948
- Helvering v. CliffordSupreme Court of the United States · 1940
- Lucas v. EarlSupreme Court of the United States · 1930
- Commissioner v. Court Holding Co.Supreme Court of the United States · 1945
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