Chrysler Corp. v. Commissioner
United States Board of Tax Appeals
1. In order to reduce labor turnover and enable its employees to become stockholders, petitioner established a successive series of employees' savings and investment plans, each plan maturing four years after the year of its establishment. For each dollar contributed by an employee, petitioner contributed 50 cents.
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1. In order to reduce labor turnover and enable its employees to become stockholders, petitioner established a successive series of employees' savings and investment plans, each plan maturing four years after the year of its establishment. For each dollar contributed by an employee, petitioner contributed 50 cents. The contributions were used to buy stock, which was segregated in the names of petitioner's agents and, together with cash on hand, was distributed pro rata to participants on maturity dates. Withdrawing employees received only the amounts of their contributions plus interest.…
1Opinion of the Court
CHRYSLER CORPORATION, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Chrysler Corp. v. Commissioner
Docket No. 97305.
United States Board of Tax Appeals
42 B.T.A. 795; 1940 BTA LEXIS 950;
September 27, 1940, Promulgated
1. In order to reduce labor turnover and enable its employees to become stockholders, petitioner established a successive series of employees' savings and investment plans, each plan maturing four years after the year of its establishment. For each dollar contributed by an employee, petitioner contributed 50 cents. The contributions were used to buy stock, which was…
2Cases cited10 opinions
- Helvering v. CliffordSupreme Court of the United States · 1940
- Eisner v. MacOmberSupreme Court of the United States · 1920
- Higgins v. SmithSupreme Court of the United States · 1940
- General Utilities & Operating Co. v. HelveringSupreme Court of the United States · 1935
- Merchants' Loan & Trust Co. v. SmietankaSupreme Court of the United States · 1921
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