Legal Opinion
DNA Pro Ventures, Inc. v. Commissioner
Court of Appeals for the Eighth Circuit
Decided May 9, 2017No. 16-1168Published
1Opinion of the Court
LOKEN, Circuit Judge.
Dr. Daniel Prohaska and his wife formed DNA Pro Ventures, Inc. (“DNA”), and established the DNA Pro Ventures, Inc. Employee Stock Ownership Plan (“ESOP”) in November 2008. After an investigation, the Internal Revenue Service (“IRS”) issued a Notice of Deficiency to the ESOP’s Trust based on a final determination that the Trust was not part of a qualified pension, profit-sharing, or stock bonus plan under 26 U.S.C. (“I.R.C.”) § 401, and therefore the Trust’s income was not exempt from taxation under I.R.C. § 501(a) in calendar years 2008-2011. The ESOP petitioned the…
2Cases cited9 opinions
- Martin v. FeilenCourt of Appeals for the Eighth Circuit · 1992
- Hull v. IRS, US DEPT. OF TREASURYCourt of Appeals for the Tenth Circuit · 2011
- Anuforo v. CommissionerCourt of Appeals for the Eighth Circuit · 2010
- Martin Fireproofing Profit-Sharing Plan & Trust v. CommissionerUnited States Tax Court · 1989
- Howard E. Clendenen, Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Eighth Circuit · 2000
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