Kansas Sand & Concrete, Inc. v. Commissioner’s Empirical Analysis
462 F.2d 805 · 1972
Citation profile
18
cited by 18 later decisions
September 1989
most recently cited
10 federal appellate · 1 district ·
Relationships
Relies on American Mfg. Co. v. Commissioner · Kansas Sand & Concrete, Inc. 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 18 citing decisions cite the case generally; a passage count includes only decisions quoting that exact language verbatim.
“* * * Thus the transaction, even though qualifying under Section 368 (a) (1) (A) as a reorganization must be treated as a complete liquidation for federal income tax purposes. We hold that Section 332 takes precedence over Section 368 in these particular circumstances. * * * [Emphasis supplied.] [ 462 F. 2d at 807 .]”
2 later decisions quote this exact passage · from the majority“(b) Liquidation of Subsidiary.— (1) In General. — If property is received by a corporation in a distribution in complete liquidation of another corporation (within the meaning of section 332(b)), then, except as provided in paragraph (2), the basis of the property in the hands of the distributee shall be the same as it would be in the hands of the transferor. If property is received by a corporation in a transfer to which section 332(c) applies, and if paragraph (2) of this subsection does not apply, then the basis of the property in the hands of the transferee shall be the same as it would be in the hands of the transferor. (2) Exception. — If property is received by a corporation in a distribution in complete liquidation of another corporation (within the meaning of section 332(b)), and if— (A) the distribution is pursuant to a plan of liquidation adopted not more than 2 years after the date of the transaction described in subparagraph (B) (or, in the case of a series of transactions, the date of the last such transaction); and (B) the stock of the distributing corporation possessing at least 80 percent of the total combined voting power of all classes of stock entitled to vote, and at least 80 percent of the total number of shares of all other classes of stock (except nonvoting stock which is limited and preferred as to dividends), was acquired by the distributee by purchase (as defined in paragraph (3)) during a 12-month period beginning with the earlier of— (i) the date ”
1 later decision quote this exact passage · from the majority“(1) that the parent corporation (Super Market Developers) must own at least 80 percent of the stock of its subsidiary (Sec. 332(b)(1)); and (2) that the subsidiary corporation must adopt a plan of liquidation (Sec. 332(b)(1), (2), (3)); and (3) that there be a complete cancellation or redemption of all of the stock of the subsidiary (Sec. 332(b)(2)); and either (4) that the subsidiary transfer all of its property within the taxable year (Sec. 332(b)(2)); or (5) that the distribution by the subsidiary is one of a series of distributions of all of the property of the subsidiary occurring within three years from the close of the year in which the first of such distributions is made. (Sec. 332(b)(3)).”
1 later decision quote this exact passage · from the majority
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.