¶ Petitioners are a sole proprietorship and a corporation of which the owner of the sole proprietorship is the only stockholder. Both entities were in the business of operating vending machines and small cafeterias in the Rochester area. On January 1, 1976, petitioners' books were adjusted to reflect a transfer to the corporation of all the assets of the sole proprietorship in exchange for an additional 100 shares of common stock issued to the sole proprietor. Petitioners...
Let's get started
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.