Sperapani v. Commissioner
United States Tax Court
1. Petitioner carried on a reporting business as a sole proprietorship under the name of Columbia Reporting Co. He filed with the district director of internal revenue a timely notice of election to have his sole proprietorship taxed as a domestic corporation under section 1361, 1954 Code.
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1. Petitioner carried on a reporting business as a sole proprietorship under the name of Columbia Reporting Co. He filed with the district director of internal revenue a timely notice of election to have his sole proprietorship taxed as a domestic corporation under section 1361, 1954 Code. Petitioner also filed timely corporation income tax returns for the enterprise which contained statements that the returns were filed pursuant to section 1361. A statement of election as prescribed in the applicable regulation, T.D. 6124, was not filed with the district director. Held, petitioner complied…
1Opinion of the Court
OPINION
Kern, Judge:
The issues presented for our decision are: (1) Whether petitioner filed a valid election to have his sole proprietorship taxed as a domestic corporation pursuant to section 1361;2 (2) whether the proprietorship hereinafter referred to as Columbia met the qualifications of section 1361 enabling it to be taxed as a domestic corporation and in particular the requirement of section 1361(b) (4) that the enterprise be one “in which capital is a material income producing factor”; (3) if Columbia is entitled to be taxed as a domestic corporation, whether its income includes…
2Cases cited31 opinions
- Helvering v. WinmillSupreme Court of the United States · 1938
- Cammarano v. United StatesSupreme Court of the United States · 1959
- Miles-Conley Co. v. Commissioner of Internal RevenueCourt of Appeals for the Fourth Circuit · 1949
- Miles-Conley Co. v. CommissionerUnited States Tax Court · 1948
- Cary v. CommissionerUnited States Tax Court · 1963
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3Cited by76 opinions
- Bond v. CommissionerUnited States Tax Court · 1993
- Knight-Ridder Newspapers, Inc. v. United StatesCourt of Appeals for the Eleventh Circuit · 1984
- Taylor v. CommissionerUnited States Tax Court · 1977
- Lucille Prussner, as of the Estate of Aileen E. Pfeifer v. United StatesCourt of Appeals for the Seventh Circuit · 1990
- Haft Trust v. CommissionerUnited States Tax Court · 1974
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