(DOWNLOAD) "Commissioner Corporations and Taxation V." by Supreme Judicial Court of Massachusetts * Book PDF Kindle ePub Free
eBook details
- Title: Commissioner Corporations and Taxation V.
- Author : Supreme Judicial Court of Massachusetts
- Release Date : January 27, 1940
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 74 KB
Description
FIELD, Chief Justice. This is an appeal by the Commissioner of Corporations and Taxation from a decision of the Appellate Tax Board granting abatement of an additional tax assessed in 1937 on income received by Paul B. Morgan -- herein referred to as the taxpayer -- during the year 1936. G.L.(Ter.Ed.) c. 58A; St.1937, c. 400. The decision was right. During the calendar year 1936 the taxpayer, a resident of the Commonwealth, owned three hundred and twenty-nine shares of seven percent cumulative preferred stock in the Graton and Knight Company of Worcester, a Massachusetts corporation -- herein referred to as the corporation. As of November 15, 1936, there were accrued unpaid dividends on this stock. On December 16, 1936, the corporation declared a dividend payable on December 24, 1936, upon the outstanding shares of preferred stock of the corporation 'in the amount of one share of prior preferred stock' of the corporation for each share of preferred stock in full payment of dividends accrued thereon to November 15, 1936. The taxpayer was assessed an income tax upon the dividend of such prior preferred stock received by him on his three hundred twenty-nine shares of preferred stock. Abatement of the income tax so assessed was denied by the commissioner and the taxpayer appealed to the Appellate Tax Board which granted abatement in the amount of $546.45.
 "Commissioner Corporations and Taxation V." by Supreme Judicial Court of Massachusetts * Book PDF Kindle ePub Free){kind=link}