United States v. Plantation Corp.

MEMORANDUM AND ORDER

SKINNER, District Judge.

The United States brought this action against the defendant, Plantation Corporation (Plantation), pursuant to 26 U.S.C. § 6332(c), for its failure to honor a tax levy served on it on March 9, 1977, 26 U.S.C. § 6332(a). The government seeks recovery of the value of the property levied, 300 shares of defendant’s common stock, 26 U.S.C. § 6332(c)(1), and an additional amount equal to 50% of that sum as a penalty. 26 U.S.C. § 6332(c)(2). Jurisdiction is based upon 28 U.S.C. §§ 1340, 1345 and 26 U.S.C. § 7402. The facts are not in dispute and both…