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HERCULES GASOLINE CO. v. COMM'R.

No. 93.

326 U.S. 425 (1945)

HERCULES GASOLINE CO., INC. v. COMMISSIONER OF INTERNAL REVENUE.

Supreme Court of United States.

Decided December 17, 1945.

Attorney(s) appearing for the Case

Mr. Melvin F. Johnson, with whom Mr. Joseph H. Jackson was on the brief, for petitioner.

Mr. Joseph S. Platt, with whom Solicitor General McGrath, Assistant Attorney General Clark, Messrs. Sewall Key, J. Louis Monarch, Walter J. Cummings, Jr. and Mrs. Maryhelen Wigle were on the brief, for respondent.

MR. JUSTICE BLACK delivered the opinion of the Court.

This case requires us to construe § 26 (c)1 of the undistributed profits tax law, 49 Stat. 1648, enacted by Congress in 1936. The undistributed profits tax, which was not continued by Congress after 1938, was a surtax at graduated rates upon corporate profits not distributed during the tax year by way of dividends. Section 26 (c)

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