Nutt v. Commissioner
United States Tax Court
Stock in an Arizona corporation formed by a husband and wife while married and living together in Arizona was issued one-half to the husband and one-half to the wife. All of the stock was paid for with community funds, treated as community property, and considered by the husband and wife to be community property. Held, the stock issued in the wife's name as well as that issued in the husband's name is community property under Arizona law. (Ariz.
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Stock in an Arizona corporation formed by a husband and wife while married and living together in Arizona was issued one-half to the husband and one-half to the wife. All of the stock was paid for with community funds, treated as community property, and considered by the husband and wife to be community property. Held, the stock issued in the wife's name as well as that issued in the husband's name is community property under Arizona law. (Ariz. Rev. Stat. Ann. sec. 25-211 (1956)). Held, further, since under Arizona law a husband has the exclusive management and control of personal community…
1Opinion of the Court
Scott, Judge:
Respondent determined deficiencies in petitioners’1 income tax for the years and in the amounts as follows:
Deficiencies
Docket No. Docket No. 77669, 77670,
Taxable year ended Dec. SI— John F. Nutt Eileen M. Nutt
1955___ $20,795.45 $20,699.45
1956_ 43, 060. 09 42, 604. 09
1957_ 38, 806. 03 38, 806. 04
By amendment to answer respondent claimed increased deficiencies for the year 1957 in the case of each petitioner in the amount of $8,418.85.
On October 26,1962, the findings of fact and opinion of this Court were filed, being reported at 89 T.C. 231, and on April 18, 1963, the decision ,of…
2Cases cited40 opinions
- Goodell v. KochSupreme Court of the United States · 1930
- Professional & Executive Leasing v. CommissionerUnited States Tax Court · 1987
- Tourette v. TouretteArizona Supreme Court · 1914
- Porter v. PorterArizona Supreme Court · 1948
- Cosper v. the Valley BankArizona Supreme Court · 1925
35 more not listed; retrieve them via the Exa API.
3Cited by3 opinions
- Estate of Nutt v. Comm'rUnited States Tax Court · 1969
- Estate of Nutt v. Comm'rUnited States Tax Court · 1969
- Nutt v. CommissionerUnited States Tax Court · 1967