State Bank of Albany v. United States

Plaintiff, State Bank of Albany, brings this action to recover Federal income taxes of $151,021.73 and $417,845.86, for the years 1961 and 1963, respectively, plus statutory interest. In its original petition, plaintiff sought to recover $188,503.77 plus interest, representing Federal income taxes paid for 1962; however, in reply to defendant’s cross motion for summary judgment, plaintiff conceded that it is barred from relitigating the taxable year 1962 and we do not now consider that issue. We have jurisdiction pursuant to 28 TJ.S.C. § 1491. We hold for the plaintiff for the reasons…