{"argument_date":"2008-01-08T00:00:00Z","arguments":[{"argument_date":"2008-01-08T00:00:00Z","heading":"What happened at the argument","official_detail_url":"https://www.supremecourt.gov/oral_arguments/argument_transcript/2007","official_transcript_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","paragraphs":["Mr. Cline argued the tax code excludes non-shareholder payments from capital return rules.","Ms. Maynard argued the taxpayer must prove specific factual elements for the defense.","justice_souter_asked_about_the_significance_of_the_phrase_with_respect_to_the_stock.","justice_kennedy_asked_if_the_corporation_balance_sheet_exists_in_the_record."],"reargument":false,"sequence":1,"sources":[{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 10, lines 33-35","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 10, lines 33-35"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 10, lines 39-43","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 10, lines 39-43"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 11, lines 13-27","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 11, lines 13-27"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 11, lines 39-41","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 11, lines 39-41"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 12, lines 15-39","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 12, lines 15-39"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 20, lines 45-19","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 20, lines 45-19"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 3, lines 17-29","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 3, lines 17-29"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 3, lines 31-31","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 3, lines 31-31"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 3, lines 7-15","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 3, lines 7-15"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 5, lines 11-31","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 5, lines 11-31"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 5, lines 51-7","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 5, lines 51-7"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 58, lines 15-19","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 58, lines 15-19"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 58, lines 21-21","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 58, lines 21-21"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 58, lines 33-39","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 58, lines 33-39"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 59, lines 7-9","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 59, lines 7-9"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 7, lines 5-17","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 7, lines 5-17"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 8, lines 33-5","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 8, lines 33-5"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 9, lines 35-39","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 9, lines 35-39"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 9, lines 43-15","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 9, lines 43-15"}]}],"caption":"Boulware v. United States","case_history":[{"changed_at":"2026-08-29T20:06:27.408365Z","explanation":"An official oral-argument transcript was verified.","status":"argued"},{"changed_at":"2026-08-29T20:06:27.416969Z","explanation":"An official oral-argument transcript was verified.","status":"argued"}],"case_status":"argued","dek":"The dispute centers on whether a shareholder can claim a tax-free return of capital for funds taken from a corporation while acting in a non-shareholder capacity.","dek_sources":[{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 20, lines 45-19","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 20, lines 45-19"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 3, lines 17-29","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 3, lines 17-29"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 58, lines 15-19","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 58, lines 15-19"}],"dispositions":[],"latest_court_document_date":"2008-01-08T00:00:00Z","maturity":"official_transcript","official_detail_url":"https://www.supremecourt.gov/oral_arguments/argument_transcript/2007","official_disposition_urls":[],"official_docket_url":"https://www.supremecourt.gov/docket/docketfiles/html/public/06-1509.html","primary_docket":"06-1509","revisions":[{"correction_note":"Rewritten to the concise citizen-facing editorial standard.","created_at":"2026-08-31T21:40:02.293185Z","maturity":"official_transcript","revision_number":1},{"correction_note":"Migrated to the dated official Court activity contract without model use.","created_at":"2026-09-05T03:22:24Z","maturity":"official_transcript","revision_number":2}],"schema_version":"1.1","sections":[{"heading":"What this case is about","paragraphs":["This case examines the tax treatment of corporate distributions. The core issue is whether a shareholder can claim a tax-free return of capital for funds taken from a corporation while acting in a non-shareholder capacity."],"sources":[{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 20, lines 45-19","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 20, lines 45-19"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 3, lines 17-29","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 3, lines 17-29"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 58, lines 15-19","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 58, lines 15-19"}]},{"heading":"How the case got here","paragraphs":["The Supreme Court heard oral argument in this case on January 8, 2008."],"sources":[{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 3, lines 7-15","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 3, lines 7-15"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 59, lines 7-9","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 59, lines 7-9"}]},{"heading":"What each side wants","paragraphs":["The taxpayer wants the court to accept the return of capital defense.","The government wants the court to reject the return of capital defense."],"sources":[{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 20, lines 45-19","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 20, lines 45-19"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 3, lines 17-29","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 3, lines 17-29"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 58, lines 15-19","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 58, lines 15-19"}]},{"heading":"What each side says","paragraphs":["The taxpayer argues the tax code excludes non-shareholder payments from capital return rules.","The government argues the taxpayer must prove specific factual elements for the defense."],"sources":[{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 20, lines 45-19","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 20, lines 45-19"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 3, lines 17-29","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 3, lines 17-29"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 58, lines 15-19","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 58, lines 15-19"}]},{"heading":"What the justices asked","paragraphs":["Justice Souter asked about the significance of the phrase with respect to the stock.","Justice Kennedy asked if the corporation’s balance sheet exists in the record."],"sources":[{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 10, lines 33-35","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 10, lines 33-35"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 10, lines 39-43","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 10, lines 39-43"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 11, lines 13-27","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 11, lines 13-27"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 11, lines 39-41","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 11, lines 39-41"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 12, lines 15-39","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 12, lines 15-39"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 3, lines 31-31","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 3, lines 31-31"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 5, lines 11-31","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 5, lines 11-31"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 5, lines 51-7","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 5, lines 51-7"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 58, lines 21-21","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 58, lines 21-21"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 58, lines 33-39","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 58, lines 33-39"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 59, lines 7-9","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 59, lines 7-9"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 7, lines 5-17","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 7, lines 5-17"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 8, lines 33-5","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 8, lines 33-5"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 9, lines 35-39","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 9, lines 35-39"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 9, lines 43-15","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 9, lines 43-15"}]},{"heading":"Why it matters","paragraphs":["This case defines the boundary between shareholder and non-shareholder financial actions. It determines how taxpayers calculate their tax liability on corporate distributions. It clarifies the legal standard for claiming a return of capital."],"sources":[{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 20, lines 45-19","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 20, lines 45-19"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 3, lines 17-29","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 3, lines 17-29"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 58, lines 15-19","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 58, lines 15-19"}]},{"heading":"What happens next","paragraphs":["This article currently covers the argument record. Use the official docket link for later case activity."],"sources":[{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 10, lines 33-35","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 10, lines 33-35"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 10, lines 39-43","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 10, lines 39-43"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 11, lines 13-27","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 11, lines 13-27"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 11, lines 39-41","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 11, lines 39-41"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 12, lines 15-39","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 12, lines 15-39"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 3, lines 31-31","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 3, lines 31-31"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 3, lines 7-15","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 3, lines 7-15"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 5, lines 11-31","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 5, lines 11-31"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 5, lines 51-7","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 5, lines 51-7"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 58, lines 21-21","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 58, lines 21-21"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 58, lines 33-39","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 58, lines 33-39"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 59, lines 7-9","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 59, lines 7-9"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 7, lines 5-17","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 7, lines 5-17"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 8, lines 33-5","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 8, lines 33-5"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 9, lines 35-39","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 9, lines 35-39"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 9, lines 43-15","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 9, lines 43-15"}]}],"slug":"2007-06-1509-boulware-v-united-states","term":"2007","title":"Does a shareholder receive a tax-free return of capital when taking money from a corporation without stock ownership?","title_sources":[{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 20, lines 45-19","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 20, lines 45-19"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 3, lines 17-29","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 3, lines 17-29"},{"evidence_type":"Transcript","label":"Official Supreme Court Transcript — file page 58, lines 15-19","official_url":"https://www.supremecourt.gov/pdfs/transcripts/2007/06-1509.pdf","page_label":"file page 58, lines 15-19"}],"topics":[],"undated_disposition_date_fallback":null,"updated_at":"2026-09-05T03:22:24Z"}