Gorham v. Commissioner
United States Board of Tax Appeals
The decedent executed a declaration of trust of his entire interest in a law partnership for the benefit of himself, his wife and two sons. Held, that the declaration of trust operated merely as an assignment of future income which makes the assignor liable for tax on the income assigned. Lucas v. Earl,281 U.S. 111; Burnet v. Leininger,285 U.S. 136.
1Opinion of the Court
ESTATE OF SIDNEY S. GORHAM, SIDNEY S. GORHAM AND WILLETT N. GORHAM, EXECUTORS, PETITIONERS, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Gorham v. Commissioner
Docket No. 83214.
United States Board of Tax Appeals
38 B.T.A. 1450; 1938 BTA LEXIS 738;
December 28, 1938, Promulgated
The decedent executed a declaration of trust of his entire interest in a law partnership for the benefit of himself, his wife and two sons. Held, that the declaration of trust operated merely as an assignment of future income which makes the assignor liable for tax on the income assigned. Lucas v. Earl,281 U.S. 111;…
2Cases cited7 opinions
- Lucas v. EarlSupreme Court of the United States · 1930
- Burnet v. LeiningerSupreme Court of the United States · 1932
- Bank v. Carrollton RailroadSupreme Court of the United States · 1871
- Morrison v. Austin State BankIllinois Supreme Court · 1904
- Brainard v. CommissionerUnited States Board of Tax Appeals · 1935
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