Legal Opinion
Continental Bank v. United States
District Court, E.D. Pennsylvania
Decided May 27, 1981No. Civ. A. 78-2527PublishedCited by 4 opinions
1Opinion of the Court
MEMORANDUM AND ORDER
FULLAM, District Judge.
Section 103 of the Internal Revenue Code, 26 U.S.C. § 103, excludes from taxation as income, interest earned on obligations of states and municipalities; removes from this exemption interest earned on, inter alia, industrial development bonds; exempts from the latter exception certain “small issues” of industrial development bonds aggregating $1 million or less; and, finally, permits an increase of the amount of the “small issue” exemption to $5 million (now $10 million), under certain conditions. 26 U.S.C. § 103(b)(6)(D) (formerly § 103(c)(6)(D)).…
2Cases cited6 opinions
- Taylor v. CommissionerUnited States Tax Court · 1977
- Tipps v. CommissionerUnited States Tax Court · 1980
- Meyran v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1933
- Midler Court Realty, Inc. v. CommissionerUnited States Tax Court · 1974
- Midler Court Realty, Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1975
1 more not listed; retrieve them via the Exa API.
3Cited by4 opinions
- Maid-Rite Steak Co., Inc. v. United StatesDistrict Court, E.D. Pennsylvania · 1986
- H.E. Butt Grocery Co. v. United StatesDistrict Court, W.D. Texas · 2000
- Continental Bank v. United StatesCourt of Appeals for the Third Circuit · 1982
- Codington County Humane Soc. v. CommissionerUnited States Tax Court · 1991