Gamble-Skogmo, Inc. v. Kelm

DONOVAN, District Judge.

This is an action wherein the plaintiff taxpayer seeks to recover documentary stamp taxes in the amount of $14,300. Payment of the taxes under protest, timely claim for refund and denial thereof, are admitted by defendant.

The assessment and payment of the taxes stem from defendant’s ruling and contention that a certain “3%% Promissory Note” in the sum of $13,000,000 executed by the taxpayer on December 29, 1947, and made payable to the Equitable Life Assurance Society of the United States, hereinafter referred to as Equitable, pursuant to a loan agreement between the…