Sumter Farm & Stock Co. v. United States

McCORD, Circuit Judge.

The Sumter Farm and Stock Company, Inc., an Alabama corporation, brought suit in the court below to recover the sum of $10,478.89, which it paid as surtax on undistributed profits for the taxable year 1936. Judgment was entered against the taxpayer and it has appealed.

The facts are stipulated. There is no question that the amount here involved was due and payable under the provisions of law in force at the time it was paid as a surtax on undistributed profits. The right to recovery is predicated upon the Revenue Act enacted by the Congress in 1942, which among other…