The case involves a divorce where the court has to decide if the retained earnings of a corporation owned by the husband's family are community property subject to division. The court ruled that the retained earnings of a Subchapter S corporation are not community property and are the corporation's exclusive property until distributed. The court said that the corporation's earnings are not the shareholder's or marital estate's separate property. The court ordered payment of $73,000 to the appellee, but this was incorrect.
Thomas v. Thomas (1987)
Texas Courts of Appeals
738 S.W.2d 342
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