Legal Opinion

North American Finance Corporation of Savannah v. The United States

United States Court of Claims

Decided January 11, 1963No. 166-58PublishedCited by 1 opinion

1Opinion of the Court

DAVIS, Judge.

Plaintiff, a wholly-owned subsidiary of State Loan and Finance Corporation, is a Georgia company doing a small loan business in Savannah. Its suit for an excess profits tax refund turns on the special manner in which it carried on its loan and thrift activities during the taxable years (1952 and 1953), as permitted by Georgia law.

The applicant for a small loan, once he was approved for credit, signed a “Subscription and Application” form subscribing to a certificate of investment to be issued by the plaintiff in the amount of the prospective loan; this certificate of investment…

2Cases cited9 opinions

Economy Sav. & Loan Co. v. CommissionerUnited States Tax Court · 1945
Economy Savings & Loan Co. v. Commissioner of Int. Rev.Court of Appeals for the Sixth Circuit · 1946
CL Downey Co. v. Commissioner of Internal RevenueCourt of Appeals for the Eighth Circuit · 1949
C. L. Downey Co. v. CommissionerUnited States Tax Court · 1948
Valley Morris Plan v. CommissionerUnited States Tax Court · 1959

4 more not listed; retrieve them via the Exa API.

3Cited by1 opinion

Community Loan & Investment Corp. v. United StatesDistrict Court, N.D. Georgia · 1965