Wilcox v. Commissioner’s Empirical Analysis
1941
Citation profile
3 federal appellate · 1 state decisions
How this case has been cited
Cited by 23 later decisions — most recently March 1964
3 federal appellate · 1 state decisions
Later decisions citing this case, by decade. The current decade is in progress, and our corpus holds fewer opinions from the most recent years, so the latest bars are undercounted — not a real decline.
Relationships
Applies 26 U.S.C. § 115
Relies on Helvering v. Butterworth · Lafayette Trust Co. v. . Beggs · McGuire v. Commissioner · Guild v. Commissioner · Randolph v. Commissioner
Most-quoted passages
The sentences later courts lift from this opinion, ranked by how many decisions quote each — the parts of the opinion doing the work. These counts are smaller than the citation total above because most of the 23 citing decisions cite the case generally; a passage count includes only decisions quoting that exact language verbatim.
“(i) Definition of Partial Liquidation. — As used in this section the term “amounts distributed in partial liquidation” means a distribution by a corporation in complete cancellation or redemption of a part of its stock, or one of a series of distributions in complete cancellation or redemption of all or a portion of its stock.”
2 later decisions quote this exact passage““For a number of years Inter-Island’s business operations have been highly successful. 5 In each of the years 1913 to 1934, inclusive, it distributed large cash dividends. * * * “In formulating the plan for the reduction of the par value of the stock and the distribution of $2 per share to the stockholders, as set forth in the resolution of ■November 16, 1934, the ‘tax angle’ of the transaction was considered and was discussed with the company’s [Inter-Island’s] tax counsel. “There was no intention on the part of the officers or directors of Inter-Island in 1934 to curtail the company’s business operations to any material extent. On the contrary, the policy of the corporation [Inter-Island] was to continue in business and to expand its operations as conditions should warrant. * * * “The balance sheet of Inter-Island at December 31, 1933, shows a surplus of $520,374.28. But the company’s insurance reserves at the same date were in the amount of $1,350,000. These did not represent any liability. They simply represented an appropriation of a part of the surplus of the company to provide against losses which might be sustained in the future. * * * The insurance reserves were merely a part of the company’s surplus. It must be held therefore that Inter-Island could have made the distribution in 1934 from surplus had it desired to do so. * * * “The distribution made by Inter-Island in 1934 and here in question was not one of a series of distributions in ‘complete cancellation or red”
1 later decision quote this exact passage
How this case has been treated — in progress
Whether each later court followed, distinguished, criticized, or overruled this decision. The treatment classification (task #35) runs highest-cited cases first and lights up here as it reaches this one.