Quaker Oats Co. v. Commissioner
United States Tax Court
Prior to 1938, petitioner had paid some voluntary pensions on a year-to-year basis to a limited number of its retired employees. It did not have any funded group annuity system. In 1938, it entered into group annuity contracts with several insurance companies to provide pensions and annuities for all of its employees in the United States and Canada.
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Prior to 1938, petitioner had paid some voluntary pensions on a year-to-year basis to a limited number of its retired employees. It did not have any funded group annuity system. In 1938, it entered into group annuity contracts with several insurance companies to provide pensions and annuities for all of its employees in the United States and Canada. Under these contracts payments were made as follows: Payment was made in 1938 of a single premium to purchase annuities for retired employees who were receiving voluntary pensions and for employees who would be eligible to retire by December 31,…
1Opinion of the Court
The Quaker Oats Company, Petitioner, v. Commissioner of Internal Revenue, Respondent
Quaker Oats Co. v. Commissioner
Docket No. 48679
United States Tax Court
28 T.C. 626; 1957 U.S. Tax Ct. LEXIS 160;
June 11, 1957, Filed
Decision will be entered for the respondent.
Prior to 1938, petitioner had paid some voluntary pensions on a year-to-year basis to a limited number of its retired employees. It did not have any funded group annuity system. In 1938, it entered into group annuity contracts with several insurance companies to provide pensions and annuities for all of its employees in the United States…
2Cases cited7 opinions
- Bonwit Teller & Co. v. United StatesSupreme Court of the United States · 1931
- Green Bay Lumber Co. v. CommissionerUnited States Tax Court · 1944
- Arrow-Hart & Hegeman Electric Co. v. CommissionerUnited States Tax Court · 1946
- Frank Shepard Co. v. CommissionerUnited States Tax Court · 1947
- Great American Indem. Co. v. CommissionerUnited States Tax Court · 1952
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