New York Seven-Up Bottling Co. v. Commissioner
United States Tax Court
In 1956 petitioner executed a collective-bargaining agreement with the Soft Drink Workers Union, Local 812. The agreement contained a severance-pay provision. In 1959 petitioner executed another agreement with the union which eliminated the severance-pay benefit and provided that petitioner would contribute to a union retirement fund. The 1959 agreement also froze any benefits under the 1956 severance-pay provision.
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In 1956 petitioner executed a collective-bargaining agreement with the Soft Drink Workers Union, Local 812. The agreement contained a severance-pay provision. In 1959 petitioner executed another agreement with the union which eliminated the severance-pay benefit and provided that petitioner would contribute to a union retirement fund. The 1959 agreement also froze any benefits under the 1956 severance-pay provision. In its return for its taxable year ending on Mar. 31, 1960, petitioner deducted its entire remaining liability under the 1956 severance-pay provision. Held, sec. 404(a) (5),…
1Opinion of the Court
New York Seven-Up Bottling Co., Inc., Petitioner v. Commissioner of Internal Revenue, Respondent
New York Seven-Up Bottling Co. v. Commissioner
Docket No. 1672-66
United States Tax Court
50 T.C. 391; 1968 U.S. Tax Ct. LEXIS 117;
May 29, 1968, Filed
Decision will be entered for the respondent.
In 1956 petitioner executed a collective-bargaining agreement with the Soft Drink Workers Union, Local 812. The agreement contained a severance-pay provision. In 1959 petitioner executed another agreement with the union which eliminated the severance-pay benefit and provided that petitioner would contribute to…
2Cases cited3 opinions
- New York Post Corp. v. CommissionerUnited States Tax Court · 1963
- New York Seven-Up Bottling Co. v. CommissionerUnited States Tax Court · 1968
- Jacobs v. CommissionerUnited States Tax Court · 1965