Zinniel v. Commissioner
United States Tax Court
Messrs. M, S, and Z each owned 300 shares of stock of a corporation. The corporation used a fiscal taxable year ending Mar. 31. The corporation made an election under sec. 1372(a), I.R.C. 1954, to be taxed under subch. S, I.R.C. 1954 (subch. S election), and the election was first effective for its fiscal taxable year ended Mar. 31, 1977. On Nov. 30, 1977, each shareholder transferred 30 shares of the corporation's stock to his spouse.
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Messrs. M, S, and Z each owned 300 shares of stock of a corporation. The corporation used a fiscal taxable year ending Mar. 31. The corporation made an election under sec. 1372(a), I.R.C. 1954, to be taxed under subch. S, I.R.C. 1954 (subch. S election), and the election was first effective for its fiscal taxable year ended Mar. 31, 1977. On Nov. 30, 1977, each shareholder transferred 30 shares of the corporation's stock to his spouse. At that time, the spouses executed a document that indicated that the spouses refused to consent to the corporation's subch. S election, and they filed the…
1Opinion of the Court
OPINION
WELLS, Judge:*
By statutory notices of deficiency dated June 6, 1984, respondent determined deficiencies in petitioners’ income taxes for the taxable years ended December 31, 1978, and December 31, 1979, as follows:
Docket No. Petitioner Year Deficiency
31100-84 John C. Zinniel 1978 $6,552
and Gayle A. Zinniel 1979 631
31101-84 David N. Merryfield 1978 7,551
and Jane A. Merryfield 1979 632
31102-84 James G. Samuels 1978 5,857
and Margaret Samuels 1979 406
The issue presented for our decision is whether a new shareholder in a “small business corporation” that has made an election under section…
2Cases cited9 opinions
- United States v. American Trucking AssociationsSupreme Court of the United States · 1940
- Huntsberry v. CommissionerUnited States Tax Court · 1984
- Federal Power Commission v. Memphis Light, Gas & Water DivisionSupreme Court of the United States · 1973
- Lecroy Research Systems Corporation v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1984
- Estate of Sachs v. CommissionerUnited States Tax Court · 1987
4 more not listed; retrieve them via the Exa API.
3Cited by71 opinions
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- Powers v. CommissionerUnited States Tax Court · 1993
- Allen v. Comm'rUnited States Tax Court · 2002
- Nissho Iwai Am. Corp. v. CommissionerUnited States Tax Court · 1987
- Truck & Equipment Corp. v. CommissionerUnited States Tax Court · 1992
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