GREAT SOUTHERN LIFE INS. CO. v. COMMISSIONER
United States Board of Tax Appeals
1. Where under terms of life insurance policies the insured left certain matured coupons attached to the policies to accumulate with interest at the rate of 3 1/2 per centum per annum and during the taxable year the insurance company paid off some of the matured coupons which were surrendered, together with interest thereon, as provided in the contract, held, the interest payments are deductible under section 203(a)(8), Revenue Act of 1928. 2. Personal property taxes paid by…
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1. Where under terms of life insurance policies the insured left certain matured coupons attached to the policies to accumulate with interest at the rate of 3 1/2 per centum per annum and during the taxable year the insurance company paid off some of the matured coupons which were surrendered, together with interest thereon, as provided in the contract, held, the interest payments are deductible under section 203(a)(8), Revenue Act of 1928. 2. Personal property taxes paid by a life insurance company under the laws of the State of Texas are not deductible under section 203(a)(5) of the Revenue…
1Opinion of the Court
GREAT SOUTHERN LIFE INSURANCE COMPANY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
GREAT SOUTHERN LIFE INS. CO. v. COMMISSIONER
Docket Nos. 56540, 64064, 71144.
United States Board of Tax Appeals
33 B.T.A. 512; 1935 BTA LEXIS 738;
November 22, 1935, Promulgated
1. Where under terms of life insurance policies the insured left certain matured coupons attached to the policies to accumulate with interest at the rate of 3 1/2 per centum per annum and during the taxable year the insurance company paid off some of the matured coupons which were surrendered, together with interest thereon,…
2Cases cited21 opinions
- North American Oil Consolidated v. BurnetSupreme Court of the United States · 1932
- United States v. S. S. White Dental Manufacturing Co.Supreme Court of the United States · 1927
- National Life Insurance v. United StatesSupreme Court of the United States · 1928
- Brant v. Virginia Coal & Iron Co.Supreme Court of the United States · 1876
- Helvering v. PowersSupreme Court of the United States · 1934
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