Owensboro Wagon Co. v. Commissioner
United States Tax Court
Prior to March 1, 1913, petitioner paid certain dividends of its common stock on common stock. Held, that the dividends are not includible in equity invested capital as distributions of stock under section 718 (a) (3) (A), I. R. C.
1Opinion of the Court
OPINION.
Johnson, Judge:
This proceeding involves deficiencies of $26,294.05 and $1,517.02 in excess profits tax for the fiscal years ended November 30, 1945, and November 30, 1946, respectively. The issue is whether the petitioner is entitled to include in its equity invested capital under section 718,1. R. C., the sum of $204,775 for distributions in stock made prior to March 1, 1913. All of the facts were stipulated and are so found.
Petitioner, a Kentucky corporation organized in 1883, kept its books and filed its income and excess profits tax returns during the taxable years on an accrual…
2Cases cited11 opinions
- Koshland v. HelveringSupreme Court of the United States · 1936
- Commissioner v. Estate of BedfordSupreme Court of the United States · 1945
- P. Dougherty Co. v. CommissionerUnited States Tax Court · 1945
- Foster v. United StatesSupreme Court of the United States · 1938
- United States v. Ogilvie Hardware Co.Supreme Court of the United States · 1947
6 more not listed; retrieve them via the Exa API.
3Cited by13 opinions
- Lawrence v. CommissionerUnited States Tax Court · 1957
- The Stacey Manufacturing Company v. Commissioner of Internal Revenue, Richmond Hosiery Mills v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1956
- Baker Land & Title Co. v. United StatesDistrict Court, W.D. Wisconsin · 1954
- Geo. W. Ultch Lumber Co. v. CommissionerUnited States Tax Court · 1953
- Baker Land and Title Company v. United StatesCourt of Appeals for the Seventh Circuit · 1956
8 more not listed; retrieve them via the Exa API.