John R. Ozier and Mildred C. Ozier v. Commissioner of Internal Revenue

Sixth Circuit

John R. Ozier and Mildred C. Ozier v. Commissioner of Internal Revenue

600 F.2d 594, 44 A.F.T.R.2d (RIA) 5222, 1979 U.S. App. LEXIS 13551

CourtCourt of Appeals for the Sixth Circuit

DecidedJune 29, 1979

Docket77-1466

StatusPublished

Cited by1 cases

This text of 600 F.2d 594 (John R. Ozier and Mildred C. Ozier v. Commissioner of Internal Revenue) is published on Counsel Stack Legal Research, covering Court of Appeals for the Sixth Circuit primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

John R. Ozier and Mildred C. Ozier v. Commissioner of Internal Revenue, 600 F.2d 594, 44 A.F.T.R.2d (RIA) 5222, 1979 U.S. App. LEXIS 13551 (6th Cir. 1979).

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Opinion

ORDER

This is an appeal from a decision of the United States Tax Court in favor of the Respondent, who had determined a deficiency of $66,244.28 in Petitioners’ Federal Income Tax for the year 1969. Because of concessions made by Petitioners, only one issue remained for decision, namely, whether G-0 Enterprises, Inc., a corporation in which Petitioner John R. Ozier was a stockholder, was eligible under Sections 1371 and 1372 of the Internal Revenue Code of 1954 (26 U.S.C.), to elect to be taxed in 1969 as a small business corporation.

The Tax Court, in its Memorandum Findings of Fact and Opinion, held that G-0 Enterprises, Inc. was not eligible to elect to be taxed in 1969 as a small business corporation. T.C.Memo. 1977-53, Docket No. 4392-74. Pursuant to that determination the Tax Court entered its Decision that *595 there is a deficiency in the amount of $66,-244.28 in Petitioners’ income tax for the taxable year 1969.

Upon consideration, we are of the opinion that the findings of fact adopted by the Tax Court are supported by substantial evidence and its conclusions of law are correct.

We therefore affirm the decision of the Tax Court on its Memorandum Findings of Fact and Opinion.

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ORDER

This is an appeal from a decision of the United States Tax Court in favor of the Respondent, who had determined a deficiency of $66,244.28 in Petitioners’ Federal Income Tax for the year 1969. Because of concessions made by Petitioners, only one issue remained for decision, namely, whether G-0 Enterprises, Inc., a corporation in which Petitioner John R. Ozier was a stockholder, was eligible under Sections 1371 and 1372 of the Internal Revenue Code of 1954 (26 U.S.C.), to elect to be taxed in 1969 as a small business corporation.

The Tax Court, in its Memorandum Findings of Fact and Opinion, held that G-0 Enterprises, Inc. was not eligible to elect to be taxed in 1969 as a small business corporation. T.C.Memo. 1977-53, Docket No. 4392-74. Pursuant to that determination the Tax Court entered its Decision that *595 there is a deficiency in the amount of $66,-244.28 in Petitioners’ income tax for the taxable year 1969.

Upon consideration, we are of the opinion that the findings of fact adopted by the Tax Court are supported by substantial evidence and its conclusions of law are correct.

We therefore affirm the decision of the Tax Court on its Memorandum Findings of Fact and Opinion.

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Bluebook (online)

600 F.2d 594, 44 A.F.T.R.2d (RIA) 5222, 1979 U.S. App. LEXIS 13551, Counsel Stack Legal Research, https://law.counselstack.com/opinion/john-r-ozier-and-mildred-c-ozier-v-commissioner-of-internal-revenue-ca6-1979.

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