Van Vorst v. Commissioner
United States Tax Court
Petitioner was one of two managing partners in a partnership in California in which his wife and five others were members. Petitioner had a 28.80086 per cent interest, his wife a 2.46253 per cent interest. The managing partners drew compensation for their services and the rest of the profits were distributable to all the partners according to their capital interests.
Read the full summary
Petitioner was one of two managing partners in a partnership in California in which his wife and five others were members. Petitioner had a 28.80086 per cent interest, his wife a 2.46253 per cent interest. The managing partners drew compensation for their services and the rest of the profits were distributable to all the partners according to their capital interests. Petitioner's interest was derived from his stockholdings in a predecessor corporation, some of which was his separate property, some was community property acquired before July 29, 1927, and some was community property acquired…
1Opinion of the Court
OPINION.
Arnold, Judge:
During the taxable years 1939,1940, and 1941 C. B. Van Vorst Co. was a partnership in which seven individuals, including petitioner and his wife, held distributive interests. It was stipulated that petitioner’s interest was 28.80086 per cent and his wife’s interest was 2.46253 per cent. Petitioner was one of the managing partners and drew compensation for his services in addition to his distributive share of the profits. The partnership returns of income for the taxable years included a computation of the portions of the petitioner’s distributive share of the profits…
2Cases cited9 opinions
- Pereira v. PereiraCalifornia Supreme Court · 1909
- Huber v. HuberCalifornia Supreme Court · 1946
- In Re Estate of PepperCalifornia Supreme Court · 1910
- Tompkins v. TompkinsCalifornia Court of Appeal · 1932
- Damner v. CommissionerUnited States Tax Court · 1944
4 more not listed; retrieve them via the Exa API.
3Cited by12 opinions
- Clemens v. CommissionerUnited States Tax Court · 1947
- Tinling v. CommissionerUnited States Tax Court · 1946
- Vogel v. CommissionerUnited States Tax Court · 1958
- Manning v. CommissionerUnited States Tax Court · 1947
- Berry v. Comm'rUnited States Tax Court · 1956
7 more not listed; retrieve them via the Exa API.