Ohio Farmers Indem. Co. v. Commissioner
United States Board of Tax Appeals
1. A mutual fire insurance company does not lose its identity as such and become a stock fire insurance company where pursuant to statutory authorization it issues policies of insurance only in consideration of cash premiums ascertained and payable in advance, even though the policies are nonassessable and carry no contingent liability for additional premiums. 2. A mutual fire insurance company may not file a consolidated return with an insurance company subject to tax under…
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1. A mutual fire insurance company does not lose its identity as such and become a stock fire insurance company where pursuant to statutory authorization it issues policies of insurance only in consideration of cash premiums ascertained and payable in advance, even though the policies are nonassessable and carry no contingent liability for additional premiums. 2. A mutual fire insurance company may not file a consolidated return with an insurance company subject to tax under the provisions of section 204 of the Revenue Act of 1932.
1Opinion of the Court
OPINION.
Mellott :
The Commissioner (respondent here) determined a deficiency in petitioner’s income tax for the year 1932 in the amount of $7,531.55. The deficiency resulted from the Commissioner’s determination that petitioner and the Ohio Farmers Insurance Co., which owned all of the capital stock of petitioner, improperly filed, and were not entitled to file, a consolidated return. It is stipulated that if they were entitled to file a consolidated return no tax is due and if they were not entitled to file such return, then a tax in the above amount is due.
The facts, all of which were…
2Cases cited8 opinions
- Union Insurance v. HogeSupreme Court of the United States · 1859
- Mygatt v. . New York Protection Insurance CompanyNew York Court of Appeals · 1860
- Davis v. Parcher & J. & A. Stewart Co.Wisconsin Supreme Court · 1892
- Buck v. RossSouth Dakota Supreme Court · 1932
- Rothchild v. Central RailroadSupreme Court of Pennsylvania · 1894
3 more not listed; retrieve them via the Exa API.
3Cited by3 opinions
- Oklahoma State Union of Farmers Educational & Cooperative Union v. CommissionerUnited States Tax Court · 1977
- Ohio Farmers Indem. Co. v. CommissionerUnited States Board of Tax Appeals · 1937
- Oklahoma State Union of Farmers Educational & Cooperative Union v. CommissionerUnited States Tax Court · 1977