Premier Shares, Inc. v. Rothensies

MARIS, Circuit Judge.

Section 800, Title VIII of the Revenue Act of 1926, and Schedule A (3) as amended by Section 723 of the Revenue Act of 1932, 26 U.S.C.A. Int.Rev.Acts, pages 284, 290, imposes a stamp tax, inter alia, upon transfers of legal title to or rights to receive shares of stock in a corporation. Acting under these statutory provisions the Collector assessed a stock transfer tax upon Premier Shares,. Inc., the plaintiff. The plaintiff paid the tax under protest and, after the rejection of its claim for refund, brought suit in the District Court for the Eastern District of…