Legal Opinion
City Bank Farmers Trust Co. v. Helvering
Supreme Court of the United States
Decided April 28, 1941No. 408 and 409PublishedCited by 59 opinions
1Opinion of the CourtJustice Black
The ultimate question here involved is whether two testamentary trusts of which petitioner is trustee were in 1931 “carrying on . . . business” within the meaning of § 23 (a) of the Revenue Act of 1928.
Pursuant to the will of Angier B. Duke, two trusts, consisting of stocks and bonds worth approximately $7,-600,000, were established in 1923 for the benefit of Duke’s two minor sons. Petitioner, as. trustee, was charged with the duty of applying a sufficient amount of the income of each trust to the support and education of the beneficiary; the surplus income was to be accumulated until the…
2Cases cited10 opinions
- Higgins v. CommissionerSupreme Court of the United States · 1941
- Morrissey v. CommissionerSupreme Court of the United States · 1935
- Von Baumbach v. Sargent Land Co.Supreme Court of the United States · 1917
- Helvering v. New York Trust Co.Supreme Court of the United States · 1934
- Biddle v. CommissionerSupreme Court of the United States · 1938
5 more not listed; retrieve them via the Exa API.
3Cited by59 opinions
- United States v. GilmoreSupreme Court of the United States · 1963
- Commissioner v. GroetzingerSupreme Court of the United States · 1987
- Lykes v. United StatesSupreme Court of the United States · 1952
- Bolster v. Commissioner of Corporations & TaxationMassachusetts Supreme Judicial Court · 1946
- Interstate Commerce Commission v. Railway Labor Executives Ass'nSupreme Court of the United States · 1942
54 more not listed; retrieve them via the Exa API.