Hawaiian Cemetery Asso. v. Commissioner
United States Tax Court
Income -- Endowment Care Fund Payments. -- Where taxpayer was not required by contract or by law to set up a trust and in fact did not set up or contribute to a trust, or in any manner segregate endowment care fund payments into separate asset funds or accounts for perpetual care purposes, but commingled such funds with its other assets and used them in general operation of its business, held such funds are not excludible from taxable income.
1Opinion of the Court
OPINION.
Kern, Judge:
These proceedings were consolidated for hearing and opinion. The respondent determined income tax deficiencies against the petitioners herein, respectively, in the amounts and for the calendar years, as follows:
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In Docket No. 77221 the year 1955 involves a net operating loss carryback from the year 1956.
In each proceeding the petitioner has conceded all adjustments set forth in the statutory deficiency notice except the one adjustment in controversy herein, namely, the respondent’s inclusion of additional amounts in income which are explained as “Unallowable…
2Cases cited13 opinions
- Portland Cremation Ass'n v. COMMISSIONER, INTERNAL REVENUECourt of Appeals for the Ninth Circuit · 1929
- National Memorial Park v. Commissioner of Int. Rev.Court of Appeals for the Fourth Circuit · 1944
- Metairie Cemetery Association v. United StatesCourt of Appeals for the Fifth Circuit · 1960
- Gracelawn Memorial Park, Inc. v. United StatesCourt of Appeals for the Third Circuit · 1958
- Acacia Park Cemetery Ass'n v. Commissioner of Int. Rev.Court of Appeals for the Seventh Circuit · 1933
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3Cited by2 opinions
- Meadowlawn Memorial Gardens, Inc. v. United StatesUnited States Court of Claims · 1980
- Hawaiian Cemetery Asso. v. CommissionerUnited States Tax Court · 1960