1. Home
  2. Browse Decisions
  3. U.S.
  4. 338 U.S.
  5. 338 U.S. 451 (1950)
 

U. S. v. CUMBERLAND PUB. SERV. CO.

No. 214.

338 U.S. 451 (1950)

UNITED STATES v. CUMBERLAND PUBLIC SERVICE CO.

Supreme Court of United States.

Decided January 9, 1950.

Attorney(s) appearing for the Case

Hilbert P. Zarky argued the cause for the United States. With him on the brief were Solicitor General Perlman, Assistant Attorney General Caudle and Ellis N. Slack.

Cornelius W. Grafton argued the cause for respondent. With him on the brief was Wilson W. Wyatt.

Hugh Satterlee, Thorpe Nesbit and Rollin Browne filed a brief, as amici curiae, urging affirmance.

MR. JUSTICE BLACK delivered the opinion of the Court.

A corporation selling its physical properties is taxed on capital gains resulting from the sale.1 There is no corporate tax, however, on distribution of assets in kind to shareholders as part of a genuine liquidation.2 The respondent corporation transferred property to its shareholders as a liquidating dividend...

Let's get started

Leagle.com

Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.

  • Updated daily.
  • Uncompromising quality.
  • Complete, Accurate, Current.

Listed below are the cases that are cited in this Featured Case. Click the citation to see the full text of the cited case. Citations are also linked in the body of the Featured Case.

Cited Cases

  • No Cases Found

Listed below are those cases in which this Featured Case is cited. Click on the case name to see the full text of the citing case.

Citing Cases