Goodyear Tire & Rubber Co. v. United States
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273 U.S. 100 (1927)
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U.S. Supreme Court
Goodyear Tire & Rubber Co. v. United States, 273 U.S. 100 (1927)
Goodyear Tire & Rubber Company v. United States
Submitted December 9, 1926
Decided January 3, 1927
273 U.S. 100
In the provision in the Revenue Acts of 1918 and 1921, imposing a stamp tax of two cents per "$100 of face value or fraction thereof" on transfers of the legal title to shares or certificates of stock, "face value" is synonymous with par value. The par value fixed by the corporate charter at the time of transfer of a certificate is the true par value, and must control, in assessment of the tax, over any different par value stated on the face of the certificate. P. 273 U. S. 102.
60 Ct.Cls. 486 reversed.
Appeal from a judgment of the Court of Claims rejecting a claim for recovery of an excessive tax.