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WILSON v. C. I. R.

No. 75-2775.

560 F.2d 687 (1977)

William B. WILSON, Petitioner-Appellant, v. COMMISSIONER OF INTERNAL REVENUE, Respondent-Appellee.

United States Court of Appeals, Fifth Circuit.

October 11, 1977.

Attorney(s) appearing for the Case

Sam J. Dealey, Vester T. Hughes, Jr., Dallas, Tex., for petitioner-appellant.

Scott P. Crampton, Asst. Atty. Gen., Gilbert Andrews, Chief, Appellate Sec., Jonathan S. Cohen, Sharon A. Darling, Ernest J. Brown, Tax Div., U. S. Dept. of Justice, Washington, D. C., Meade Whitaker, Chief Counsel, Internal Revenue Service, Washington, D. C., for respondent-appellee.

Before TUTTLE, GOLDBERG and CLARK, Circuit Judges.

GOLDBERG, Circuit Judge.

Subchapter S of the Internal Revenue Code provides a method for certain electing close corporations to exempt themselves from corporate income taxes. Their income is taxable directly to the shareholders, all of whom must consent to such treatment. The question in this case is whether William B. Wilson, Inc. validly elected to come within subchapter S. That question in turn depends upon the definition of "shareholder" for purposes of determining...

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