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Raybestos-Manhattan, Inc. v. United States, 296 U.S. 60 (1935)
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General SummaryThis case is from a collection containing the full text of over 16,000 Supreme Court cases from 1793 to the present. The body of Supreme Court decisions are, effectively, the final interpretation of the Constitution. Only an amendment to the Constitution can permanently overturn an interpretation and this has happened only four times in American history.
Raybestos-Manhattan, Inc. v. United States, 296 U.S. 60 (1935)
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Raybestos-Manhattan, Inc. v. United States No. 20 Argued October 22, 1935 Decided November 11, 1935 296 U.S. 60
CERTIORARI TO THE COURT OF CLAIMS
Syllabus
Pursuant to a consolidation agreement, two corporations conveyed their property to a new corporation in return for shares of its capital stock, issued not to the two corporations, but directly to their stockholders in proportion to their holdings in those corporations.
Held:
That the transaction was subject to a stamp tax under § 800 of the Revenue Act of 1926 not only on the original issue of the shares, but also on the transfers necessarily involved, whereby the rights to receive the shares, inherent in the two corporations by operation of law, were transferred by the agreement lo the stockholders. P. 62.
80 Ct.Cls. 809, 10 F.Supp. 130, affirmed.
Certiorari, 295 U.S. 727, to review a judgment of the Court of Claims denying recovery of money exacted by the United States as stamp taxes.
Contents:
Chicago: U.S. Supreme Court, "Syllabus," Raybestos-Manhattan, Inc. v. United States, 296 U.S. 60 (1935) in 296 U.S. 60 Original Sources, accessed November 22, 2024, http://originalsources.com/Document.aspx?DocID=12Q357PSBA73V5V.
MLA: U.S. Supreme Court. "Syllabus." Raybestos-Manhattan, Inc. v. United States, 296 U.S. 60 (1935), in 296 U.S. 60, Original Sources. 22 Nov. 2024. http://originalsources.com/Document.aspx?DocID=12Q357PSBA73V5V.
Harvard: U.S. Supreme Court, 'Syllabus' in Raybestos-Manhattan, Inc. v. United States, 296 U.S. 60 (1935). cited in 1935, 296 U.S. 60. Original Sources, retrieved 22 November 2024, from http://originalsources.com/Document.aspx?DocID=12Q357PSBA73V5V.
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