McGuire v. Commissioner
United States Board of Tax Appeals
1. Petitioners, father and son, owned all of the 180 shares, par value $50, of the stock of a manufacturing corporation, except one share held by another member of the family; the corporation, prior to 1930, conserved earnings looking to the acquisition of another plant, which idea was abandoned in 1929 without action; the directors and stockholders (being the same persons) caused the corporation to purchase 40 shares of stock from each petitioner at $12,000 per share and to…
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1. Petitioners, father and son, owned all of the 180 shares, par value $50, of the stock of a manufacturing corporation, except one share held by another member of the family; the corporation, prior to 1930, conserved earnings looking to the acquisition of another plant, which idea was abandoned in 1929 without action; the directors and stockholders (being the same persons) caused the corporation to purchase 40 shares of stock from each petitioner at $12,000 per share and to pay them out of the earnings accumulated after February 28, 1913, and to reduce the corporate capital from $9,000 to…
1Opinion of the Court
ELWOOD W. MCGUIRE, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
CHARLES A. MCGUIRE, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
McGuire v. Commissioner
Docket Nos. 75537, 75538.
United States Board of Tax Appeals
32 B.T.A. 1075; 1935 BTA LEXIS 844;
August 2, 1935, Promulgated
1. Petitioners, father and son, owned all of the 180 shares, par value $50, of the stock of a manufacturing corporation, except one share held by another member of the family; the corporation, prior to 1930, conserved earnings looking to the acquisition of another plant, which idea was abandoned…
2Cases cited19 opinions
- United States v. PhellisSupreme Court of the United States · 1921
- Rockefeller v. United StatesSupreme Court of the United States · 1921
- Peabody v. EisnerSupreme Court of the United States · 1918
- Security First Nat'l Bank v. CommissionerUnited States Board of Tax Appeals · 1933
- Brown v. CommissionerUnited States Board of Tax Appeals · 1932
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