Old Colony Trust Co. v. Commissioner
United States Board of Tax Appeals
Certain individuals received payments totaling $40,000, as beneficiaries named in an annuity contract, upon the death of the annuitant. Held, the contract under which the payments were received was not a policy of life insurance and the payments received were not received as insurance so as to be exempt from estate tax within the provisions of section 302(g), Revenue Act of 1926.
1Opinion of the Court
OLD COLONY TRUST COMPANY AND EVERETT MORSS, JR., EXECUTORS OF THE WILL OF EVERETT MORSS, PETITIONERS, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Old Colony Trust Co. v. Commissioner
Docket No. 82769.
United States Board of Tax Appeals
37 B.T.A. 435; 1938 BTA LEXIS 1037;
March 2, 1938, Promulgated
Certain individuals received payments totaling $40,000, as beneficiaries named in an annuity contract, upon the death of the annuitant. Held, the contract under which the payments were received was not a policy of life insurance and the payments received were not received as insurance so as to be…
2Cases cited6 opinions
- Ritter v. Mutual Life Ins. Co. of NYSupreme Court of the United States · 1898
- Commonwealth v. Metropolitan Life InsuranceSupreme Court of Pennsylvania · 1916
- People ex rel. Metropolitan Life Insurance v. KnappAppellate Division of the Supreme Court of the State of New York · 1920
- State Ex Rel. Thornton v. Probate CourtSupreme Court of Minnesota · 1932
- Guaranty Trust Co. v. CommissionerUnited States Board of Tax Appeals · 1929
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