Piller v. Commissioner
United States Board of Tax Appeals
During the taxable period the petitioner, which kept its books and filed its tax return on the cash receipts and disbursements basis, deposited with the tax commission of New York State certain corporate bonds to secure the payment of an estimated inheritance or transfer tax imposed by the laws of that state with respect to certain contingent interests created by the will of the petitioner's testator.
Read the full summary
During the taxable period the petitioner, which kept its books and filed its tax return on the cash receipts and disbursements basis, deposited with the tax commission of New York State certain corporate bonds to secure the payment of an estimated inheritance or transfer tax imposed by the laws of that state with respect to certain contingent interests created by the will of the petitioner's testator. Held, that the deposit of the bonds did not constitute payment of the tax and that the amount thereof is not an allowable deduction in determining the petitioner's taxable net income.
1Opinion of the Court
ESTATE OF BENJAMIN PILLER, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Piller v. Commissioner
Docket No. 63023.
United States Board of Tax Appeals
29 B.T.A. 799; 1934 BTA LEXIS 1479;
January 17, 1934, Promulgated
During the taxable period the petitioner, which kept its books and filed its tax return on the cash receipts and disbursements basis, deposited with the tax commission of New York State certain corporate bonds to secure the payment of an estimated inheritance or transfer tax imposed by the laws of that state with respect to certain contingent interests created by the will…
2Cases cited1 opinion
- Piller v. CommissionerUnited States Board of Tax Appeals · 1934