Evergreen Cemetery Ass'n v. Commissioner
United States Board of Tax Appeals
The petitioner owned and operated a cemetery and sold lots therein under agreements with purchasers thereof that a part of the purchase price of each lot would be set aside as a trust fund for the perpetual care of said lots and cemetery. Held, such amounts constitute a trust fund and may not be included in gross income of the petitioner and therefore are not taxable income to it.
1Opinion of the Court
*1196OPINION.
Seawell:
Chapter 21, paragraph 51, section 4, of Cahill’s Illinois Revised Statutes, relative to cemetery associations, in force in 1923, reads as follows:
¶ 51, Trust fund.] §4, The board of directors of such cemetery society, or cemetery association, or the trustees of any public graveyard, may set apart such portion as they see fit of the moneys received from the sale of the lots in such cemetery or graveyard, which sums shall be kept separate from all other assets as an especial trust fund, and they shall keep the same invested in safe interest or income paying securities, for the…
2Cases cited2 opinions
- Colton v. ColtonSupreme Court of the United States · 1888
- Chicago, Milwaukee & St. Paul Railway Co. v. Des Moines Union Railway Co.Supreme Court of the United States · 1920
3Cited by5 opinions
- Memphis Memorial Park v. CommissionerUnited States Board of Tax Appeals · 1933
- Meadowlawn Memorial Gardens, Inc. v. United StatesUnited States Court of Claims · 1980
- Hawaiian Cemetery Asso. v. CommissionerUnited States Tax Court · 1960
- Cedar Park Cemetery Ass'n, Inc. v. CommissionerUnited States Tax Court · 1949
- Evergreen Cemetery Ass'n v. CommissionerUnited States Board of Tax Appeals · 1931