Guitar Trust Estate v. Commissioner
United States Board of Tax Appeals
1. TRUST, OR ASSOCIATION. Where the settlors of a trust were the owners of a large estate consisting of cotton gins, oil wells, farm lands, ranch property, etc., and desired to make a donation to their children and conveyed all their property to trustees for the equal benefit of their said children, after reserving to themselves a child's part, and conferred upon the trustees the power to hold, manage, and operate the property and to sell, invest and reinvest, and prohibited…
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1. TRUST, OR ASSOCIATION. Where the settlors of a trust were the owners of a large estate consisting of cotton gins, oil wells, farm lands, ranch property, etc., and desired to make a donation to their children and conveyed all their property to trustees for the equal benefit of their said children, after reserving to themselves a child's part, and conferred upon the trustees the power to hold, manage, and operate the property and to sell, invest and reinvest, and prohibited the beneficiaries from selling or otherwise disposing of their shares of the trust estate, and no beneficial…
1Opinion of the Court
*1222OPINION.
Black :
The principal issue involved in this proceeding is whether petitioner is a trust taxable, if at all, under the provision of section 219 of the applicable revenue acts, or whether it is an association taxable as a corporation.
Section 2 (a) (2) of the applicable revenue acts says: “ The term ‘ corporation ’ includes associations, joint stock companies and insurance companies.” Clearly, petitioner is not a joint stock company such as the Supreme Court held taxable as a corporation in Burk-Waggoner Oil Association v. Hopkins, 269 U. S. 110. In that case, R. M. Waggoner and…
2Cases cited2 opinions
- Hecht v. MalleySupreme Court of the United States · 1924
- Burk-Waggoner Oil Assn. v. HopkinsSupreme Court of the United States · 1925
3Cited by8 opinions
- Don Murphy, Lorraine Dille Williams, Robert Nichols Flint Dille, & Team Angry Filmworks, Inc. v. Bernstein (In re Dille Family Trust)United States Bankruptcy Court, W.D. Pennsylvania · 2019
- Roebling v. CommissionerUnited States Board of Tax Appeals · 1933
- Malloy v. CommissionerUnited States Board of Tax Appeals · 1933
- Arthur Jordan Foundation v. District of ColumbiaCourt of Appeals for the D.C. Circuit · 1955
- Guitar Trust Estate v. CommissionerUnited States Board of Tax Appeals · 1936
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