Peabody v. Eisner

Citations

• 247 U.S. 347
• 38 S. Ct. 546
• 62 L. Ed. 1152
• 1918 U.S. LEXIS 1916
• 3 A.F.T.R. (P-H) 2995
• 1 U.S. Tax Cas. (CCH) 21

Syllabus

<p>A dividend received by a shareholder after, from surplus profits of the corporation existing before, March 1,1913, was subject to the “surtax ” under the Income Tax Act of 1913. Lynch v. Hornby, ante, 339.</p> <p>A dividend by a corporation of shares owned by it in another corporation is not a stock dividend and is subject to the tax, like an equiva- ■ lent distribution of money. Towns v. Eisner, 245 U. S. 418, distinguished.</p>