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Ragghianti v. Commissioner, 71 T.C. at 349-350; Pacific Coast
Music Jobbers, Inc. v. Commissioner, 55 T.C. at 874. Some of the
factors that we have considered in determining whether a person
holds the accouterments of stock ownership for Federal income tax
purposes are:
(1) Whether the person has legal title or a contractual
right to obtain legal title in the future, Ragghianti v.
Commissioner, supra at 349;
(2) whether the person has the right to receive
consideration from the transferee of the stock, Hook v.
Commissioner, 58 T.C. 267, 275 (1972); Willie v. Commissioner,
T.C. Memo. 1991-182;
(3) whether the person enjoys the economic benefits and
burdens of being a shareholder, Pacific Coast Music Jobbers, Inc.
v. Commissioner, supra at 875-876; Yelencsics v. Commissioner, 74
T.C. 1513, 1527 (1980);
(4) whether the person has the power to control the
company, Yelencsics v. Commissioner, supra at 1527; Cepeda v.
Commissioner, T.C. Memo. 1994-62, affd. without published opinion
56 F.3d 1384 (5th Cir. 1995);
(5) whether the person has the right to attend shareholder
meetings, Yelencsics v. Commissioner, supra at 1528; Ragghianti
v. Commissioner, supra at 350-351;
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