Veterans Foundation v. Commissioner
United States Tax Court
Petitioner corporation was organized as a "nonprofit" membership corporation under the laws of Utah. During its fiscal year ended February 28, 1958, petitioner operated two "Veterans Thrift Stores" where it sold, at wholesale and retail, used clothing, furniture, and household appliances contributed to it by members of the public.
Read the full summary
Petitioner corporation was organized as a "nonprofit" membership corporation under the laws of Utah. During its fiscal year ended February 28, 1958, petitioner operated two "Veterans Thrift Stores" where it sold, at wholesale and retail, used clothing, furniture, and household appliances contributed to it by members of the public. Petitioner turned over that portion of its profits, which exceeded the amounts paid on its obligation for purchase of the two stores, to the Utah Department of the Disabled American Veterans which was exempt from income taxation under sec. 501(c)(4), I.R.C. 1954.…
1Opinion of the Court
Pierce, Judge:
The respondent determined a deficiency of $8,442.96 in income tax against the petitioner corporation for its fiscal year ended February 28, 1958; and also an addition to tax of $844.30 under section 6651(a) of the 1954 Code, because of its failure to file a return for said fiscal year within the time prescribed by law.
Petitioner, as hereinafter more fully shown, operated two stores wherein it sold at retail and wholesale, used clothing, furniture, and appliances which it had received free of charge from members of the public; and it then turned over portions of its profits to a…
2Cases cited5 opinions
- Detroit Edison Co. v. CommissionerSupreme Court of the United States · 1943
- Brown Shoe Co. v. CommissionerSupreme Court of the United States · 1950
- Philbrick v. CommissionerUnited States Tax Court · 1956
- Veterans Foundation v. United StatesDistrict Court, D. Utah · 1959
- Parkinson v. State Bank of Millard CountyUtah Supreme Court · 1934
3Cited by16 opinions
- Logan Lumber Company v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1966
- Vaira v. CommissionerUnited States Tax Court · 1969
- Sherwood Memorial Gardens, Inc. v. CommissionerUnited States Tax Court · 1964
- Foresun, Inc. v. CommissionerUnited States Tax Court · 1964
- Veterans Foundation v. Commissioner of Internal RevenueCourt of Appeals for the Tenth Circuit · 1963
11 more not listed; retrieve them via the Exa API.