Legal Opinion
United States v. Nunnally Investment Co.
Supreme Court of the United States
Decided May 11, 1942No. 990PublishedCited by 47 opinions
1Opinion of the CourtJustice Frankfurter
This is a suit against the United States to recover taxes for the year 1920. In that year the taxpayer, the respondent here, sold its business and all its assets to another corporation. The consideration consisted of cash and the assumption of certain of the respondent’s obligations, including federal taxes for previous years. The purchaser paid part of these taxes in 1920, the remainder in 1921 and 1922. In determining a deficiency for the year 1920, the Commissioner employed a lower basis of the assets sold than was used by the respondent. The Commissioner computed the selling price by…
2Cases cited11 opinions
- Sunshine Anthracite Coal Co. v. AdkinsSupreme Court of the United States · 1940
- Tait v. Western Maryland Railway Co.Supreme Court of the United States · 1933
- George Moore Ice Cream Co. v. RoseSupreme Court of the United States · 1933
- Cary v. CurtisSupreme Court of the United States · 1845
- United States v. KalesSupreme Court of the United States · 1941
6 more not listed; retrieve them via the Exa API.
3Cited by47 opinions
- McDaniel v. Chevron Corp.Court of Appeals for the Ninth Circuit · 2000
- Wallace v. United StatesCourt of Appeals for the Second Circuit · 1944
- Lichter Foundation, Inc. v. Russell A. Welch, Collector of Internal RevenueCourt of Appeals for the Sixth Circuit · 1959
- Estate of Goodall v. CommissionerCourt of Appeals for the Eighth Circuit · 1968
- Laurie W. Tomlinson, District Director of Internal Revenue for the District of Florida v. Florida Iron and Metal, Inc.Court of Appeals for the Fifth Circuit · 1961
42 more not listed; retrieve them via the Exa API.