Corbett v. Commissioner

Board of Tax Appeals

Corbett v. Commissioner

11 B.T.A. 540

CourtUnited States Board of Tax Appeals

DecidedApril 12, 1928

DocketDocket No. 11855

StatusPublished

This text of 11 B.T.A. 540 (Corbett v. Commissioner) is published on Counsel Stack Legal Research, covering United States Board of Tax Appeals primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Corbett v. Commissioner, 11 B.T.A. 540 (bta 1928).

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Opinion

[541]*541OPINION.

Smith

: The question presented by this proceeding has been before the Board in L. S. Ayers & Co., 1 B. T. A. 1135, wherein we held that the invested capital of a corporation might not be reduced in determining the extent to which a dividend is paid from current earnings of a year by a “ tentative tax ” theoretically set aside out of such earnings pro rata over such year. The position there taken was reaffirmed in All America Cables, Inc., 10 B. T. A. 213. These decisions are controlling in this case.

Judgment will be entered on 15 days’ notice, wider Rule 50.

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[541]*541OPINION.

Smith

: The question presented by this proceeding has been before the Board in L. S. Ayers & Co., 1 B. T. A. 1135, wherein we held that the invested capital of a corporation might not be reduced in determining the extent to which a dividend is paid from current earnings of a year by a “ tentative tax ” theoretically set aside out of such earnings pro rata over such year. The position there taken was reaffirmed in All America Cables, Inc., 10 B. T. A. 213. These decisions are controlling in this case.

Judgment will be entered on 15 days’ notice, wider Rule 50.

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Bluebook (online)

11 B.T.A. 540, Counsel Stack Legal Research, https://law.counselstack.com/opinion/corbett-v-commissioner-bta-1928.