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United States v. Phellis

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United States v. Phellis
Argued October 11, 1921
Decided November 21, 1921
Full case nameUnited States v. C. W. Phellis
Citations257 U.S. 156 (more)
42 S.Ct. 63; 66 L. Ed. 180; 1921 U.S. LEXIS 1328
Holding
Shares in a subsidiary corporation issued to stockholders in the parent corporation are taxable as income.
Court membership
Chief Justice
William H. Taft
Associate Justices
Joseph McKenna · Oliver W. Holmes Jr.
William R. Day · Willis Van Devanter
Mahlon Pitney · James C. McReynolds
Louis Brandeis · John H. Clarke
Case opinions
MajorityPitney, joined by Taft, McKenna, Holmes, Day, Brandeis, Clarke
DissentMcReynolds, joined by Van Devanter

United States v. Phellis, 257 U.S. 156 (1921), was a decision by the United States Supreme Court, which held that shares in a subsidiary corporation issued to stockholders in the parent corporation were taxable as income.

See also

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Further reading

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  • Beale, Joseph H. (1923). "Stockholders and the Federal Income Tax". Harvard Law Review. 37 (1): 1–14. doi:10.2307/1328405. JSTOR 1328405.
  • Powell, Thomas Reed (1922). "Income from Corporate Dividends". Harvard Law Review. 35 (4): 363–392. doi:10.2307/1328647. JSTOR 1328647.
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