Banner Bldg. Co. v. Commissioner
United States Board of Tax Appeals
1. Petitioner was organized under the laws of the State of Kentucky as a corporation with a stated capital stock. This capital stock was represented by shares of $10 par value which were sold to the members of a fraternal beneficiary society operating under the lodge system, which society is itself exempt from taxation under section 101, Revenue Act of 1936. Petitioner acquired, improved, and has ever since operated a building in Louisville, Kentucky, on which it collects…
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1. Petitioner was organized under the laws of the State of Kentucky as a corporation with a stated capital stock. This capital stock was represented by shares of $10 par value which were sold to the members of a fraternal beneficiary society operating under the lodge system, which society is itself exempt from taxation under section 101, Revenue Act of 1936. Petitioner acquired, improved, and has ever since operated a building in Louisville, Kentucky, on which it collects rents, and in which it operates bowling alleys and a bar from which it collects revenue from members of the fraternal…
1Opinion of the Court
BANNER BUILDING COMPANY, INC., PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Banner Bldg. Co. v. Commissioner
Docket No. 105605.
United States Board of Tax Appeals
46 B.T.A. 857; 1942 BTA LEXIS 802;
April 7, 1942, Promulgated
1. Petitioner was organized under the laws of the State of Kentucky as a corporation with a stated capital stock. This capital stock was represented by shares of $10 par value which were sold to the members of a fraternal beneficiary society operating under the lodge system, which society is itself exempt from taxation under section 101, Revenue Act of 1936.…
2Cases cited2 opinions
- American Surety Co. of New York v. 14 Canal Street, Inc.Massachusetts Supreme Judicial Court · 1931
- Banner Bldg. Co. v. CommissionerUnited States Board of Tax Appeals · 1942