FINANCIAL DYNAMICS, LTD. v. UNITED STATES

No. 77-476-Civ-J-B.

531 F.Supp. 187 (1980)

FINANCIAL DYNAMICS, LTD., a Florida Limited Partnership, d/b/a Jax Aero Service, A. F. Irby, Limited Partner, James F. Shivler, Jr., Limited Partner, Bob Alligood, Limited Partner, Dr. Roy M. Baker, Limited Partner, Norman Olitsky, Limited Partner, Dr. James H. Corwin, Limited Partner, Isaac L. Levy, Limited Partner, David K. MacCulley, Limited Partner, Mrs. Miriam C. Edwards, Limited Partner, Plaintiffs, v. UNITED STATES of America, Defendant.

United States District Court, M. D. Florida, Jacksonville Division.

July 11, 1980.


Attorney(s) appearing for the Case

Fred M. Cone, Jr., Peter W. Mettler, Jacksonville, Fla., for plaintiffs.

Randall M. Roden, Gary L. Betz, U.S. Atty., Tax Div., Dept. of Justice, Washington, D. C., Jacksonville, Fla., for defendant.


OPINION

SUSAN H. BLACK, District Judge.

This is a claim for tax refund by the individual limited partners of Financial Dynamics, Ltd., a Florida limited partnership. The United States has counterclaimed for excess taxes due. There is no dispute that the partnership is liable for the taxes; the only question is whether the individual partners are personally liable.

On September 2, 1971, Financial Dynamics, Ltd. was formed as a limited partnership...

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