Rogers v. Commissioner

Decided June 25, 1928

United States Board of Tax Appeals · decided 1928-06-25

1. The corporation, Robert C. Rogers Co., Inc., was not engaged in business after July 31, 1919, when the petitioner took over its assets, and he is not liable under section 280 of the Revenue Act of 1926 as the transferee of the assets of the corporation for taxes asserted against it by the respondent for the calendar year 1919, and the period January 1, to August 18, 1920. 2. Petitioner did not receive a liquidating dividend from said corporation in the calendar year 1920.

Cited by 1 later decisions — most recently March 1954

1 state decisions

Good law ✅— No negative treatment on recordhow we know

Decided 1928-06-25

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¶1 *817OPINION.

Marquette:

¶2Regardless of the lack of formality attending the transfer of the assets of the Robert C. Rogers Co., Inc., to the petitioner on July 31, 1919, the action was, in our opinion, clearly sufficient to vest in the petitioner title to such assets subject to the corporation’s debts, and the corporation from that date was only an empty shell. It had no assets and engaged in no business. It follows that the corporation had no income during the periods August 1 to December 31,1919, and January 1 to August 18, 1920, and that the petitioner did not receive any liquidating dividends from the corporation in 1920.

¶3Judgment will he entered wider Rule 50.