Floyd v. Scofield, Collector of Internal Revenue

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• holding a corporation liable for corporate tax on income from the sale of oil and gas despite liquidation plan that distributed accounts receivable to shareholders when checks were delivered before dissolution
• considering whether a corporation by assignment to its stockholders can escape taxation on the proceeds of the sale of corporate assets
• considering whether a corporation by assignment to its stockholders can escape taxation on the proceeds of the sale of corporate assets
• agreeing that a corporation was the owner of income from product sales because, inter alia, checks were made payable to and delivered to the corporation, and it had the choice either to collect the funds itself or to direct the payment thereof to its shareholders

Source: CourtListener parenthetical corpus (CC0).