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Carlberg v. United States

281 F.2d 507 (1960)

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Carlberg v. United States

United States Court of Appeals for the Eighth Circuit

281 F.2d 507 (1960)

Facts

The Maryland-based Long-Bell Lumber Corporation (Maryland) and the Missouri-based Long-Bell Lumber Company (Missouri) merged into the International Paper Company (International). Shareholders of Maryland and Missouri received both International common stock and certificates of contingent interest for shares of International common stock, the ultimate number of which depended on the resolution of litigation against Missouri. June Carlberg (plaintiff), an owner of Maryland and Missouri stock, received 413 shares of International stock and certificates for 24.31416 units of contingent interest. Taxes were assessed on the contingent stock, which the United States government (defendant) treated as boot—i.e., effectively cash or other taxable property. Carlberg brought suit for a refund in federal district court. The court found in favor of the government. Carlberg appealed. The United States Court of Appeals for the Eighth Circuit granted certiorari.

Rule of Law

Issue

Holding and Reasoning (Blackmun, J.)

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