Case ID: us-ct-cl_63/html/0675-01.html
Source: Caselaw Access Project
Author: {"author": "Mr. Justice Stoke", "license": "Public Domain", "url": "https://static.case.law/"}
Date Created: 2024-08-24T03:29:51.129683

GOODYEAR TIRE & RUBBER COMPANY v. UNITED STATES
    [60 C. Cls. 486; 273 U. S. 100]
    Judgment was rendered in favor of the United States in the court below. On appeal the judgment was
    
      reversed,
    
    the Supreme Court deciding:
    1. In the provision in the revenue acts of 1918 and 1921, imposing a stamp tax of 2 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.
   Mr. Justice Stoke

delivered the opinion of the Supreme Court January 3, 1927.