Carey-Reed Co. v. Commissioner
United States Board of Tax Appeals
Interest on bonds issued by cities of the fourth and fifth class of the Commonwealth of Kentucky for street, paving, and sewer improvements payable exclusively out of collections of local improvement taxes assessed against the benefited property, held, interest on the obligations of a political subdivision of a state and exempt from tax under section 22(b)(4) of the Revenue Act of 1932.
1Opinion of the Court
CAREY-REED COMPANY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Carey-Reed Co. v. Commissioner
Docket No. 83936.
United States Board of Tax Appeals
36 B.T.A. 36; 1937 BTA LEXIS 778;
June 8, 1937, Promulgated
Interest on bonds issued by cities of the fourth and fifth class of the Commonwealth of Kentucky for street, paving, and sewer improvements payable exclusively out of collections of local improvement taxes assessed against the benefited property, held, interest on the obligations of a political subdivision of a state and exempt from tax under section 22(b)(4) of the Revenue Act…
2Cases cited9 opinions
- Denman v. SlaytonSupreme Court of the United States · 1931
- Kansas City S. Ry. v. CommissionerUnited States Board of Tax Appeals · 1929
- Missouri Pac. R.R. v. CommissionerUnited States Board of Tax Appeals · 1931
- City of Mt. Sterling v. Montgomery CountyCourt of Appeals of Kentucky · 1913
- Castle v. City of LouisaCourt of Appeals of Kentucky · 1920
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