Braunstein Et Al. v. Commissioner of Internal Revenue

Supreme Court

Braunstein Et Al. v. Commissioner of Internal Revenue

371 U.S. 933, 83 S. Ct. 306

CourtSupreme Court of the United States

DecidedDecember 10, 1962

Docket476

StatusPublished

This text of 371 U.S. 933 (Braunstein Et Al. v. Commissioner of Internal Revenue) is published on Counsel Stack Legal Research, covering Supreme Court of the United States primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Braunstein Et Al. v. Commissioner of Internal Revenue, 371 U.S. 933, 83 S. Ct. 306 (1962).

Pincite

Opinion

Petition for writ of certiorari to the United States Court of Appeals for the Second Circuit granted limited to the following question:

“1. Whether Section 117 (m) of the Internal Revenue Code of 1939, which provides that gain 'from the sale or exchange ... of stock of a collapsible corporation’ is taxable as ordinary income rather than capital gain, is inapplicable in circumstances where the stockholders would have been entitled t'o capital gains treatment had they conducted the enterprise in their individual capacities without utilizing a corporation.”

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Petition for writ of certiorari to the United States Court of Appeals for the Second Circuit granted limited to the following question:

“1. Whether Section 117 (m) of the Internal Revenue Code of 1939, which provides that gain 'from the sale or exchange ... of stock of a collapsible corporation’ is taxable as ordinary income rather than capital gain, is inapplicable in circumstances where the stockholders would have been entitled t'o capital gains treatment had they conducted the enterprise in their individual capacities without utilizing a corporation.”

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Bluebook (online)

371 U.S. 933, 83 S. Ct. 306, Counsel Stack Legal Research, https://law.counselstack.com/opinion/braunstein-et-al-v-commissioner-of-internal-revenue-scotus-1962.