Adolph Coors Co. v. Commissioner
United States Tax Court
The Court entered a decision in this case on Mar. 28, 1974, showing a deficiency in income tax due from the petitioner for the taxable year 1965 in the amount of $ 3,660,205.49. For the taxable year 1966 a deficiency of $ 1,109,568.91 is due.
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The Court entered a decision in this case on Mar. 28, 1974, showing a deficiency in income tax due from the petitioner for the taxable year 1965 in the amount of $ 3,660,205.49. For the taxable year 1966 a deficiency of $ 1,109,568.91 is due. In order to stay assessment and collection of the tax the petitioner proposes to offer under sec. 7485 (a)(1), I.R.C. 1954, a bond with surety consisting of an irrevocable letter of credit from the First National Bank of Denver in the amount of $ 9,539,548.40. Held, the surety on the bond is approved.
1Opinion of the Court
Adolph Coors Company, Petitioner v. Commissioner of Internal Revenue, Respondent
Adolph Coors Co. v. Commissioner
Docket No. 2840-69
United States Tax Court
62 T.C. 300; 1974 U.S. Tax Ct. LEXIS 97; 62 T.C. No. 36;
June 10, 1974, Filed
The Court entered a decision in this case on Mar. 28, 1974, showing a deficiency in income tax due from the petitioner for the taxable year 1965 in the amount of $ 3,660,205.49. For the taxable year 1966 a deficiency of $ 1,109,568.91 is due. In order to stay assessment and collection of the tax the petitioner proposes to offer under sec. 7485 (a)(1), I.R.C. 1954, a…
2Cases cited3 opinions
- Barnes Theatre Ticket Service, Inc. v. CommissionerUnited States Tax Court · 1968
- Estate of Kahn v. CommissionerUnited States Tax Court · 1973
- Adolph Coors Co. v. CommissionerUnited States Tax Court · 1974