Legal Opinion
Campbell County State Bank, Incorporated, of Herreid, South Dakota v. Commissioner of Internal Revenue
Court of Appeals for the Eighth Circuit
Decided January 3, 1963No. 17101PublishedCited by 29 opinions
1Opinion of the Court
VAN OOSTERHOUT, Circuit Judge.
The taxpayer, Campb.ell County State Bank, has filed a timely petition for review of the decision of the Tax Court assessing corporate income tax deficiencies for -¡^g years 1954 — 1957, inclusive. The Tax Court opinion is reported at 37 T.C. 430.
Taxpayer is a banking corporation organized and chartered in March, 1944, under the laws of South Dakota. Twenty-five individuals each purchased 20 shares of stock of the corporation. 1
Under South Dakota law, banks are not permitted to engage in the business of selling insurance. A few months after the Bank’s…
2Cases cited11 opinions
- United States v. United States Gypsum Co.Supreme Court of the United States · 1948
- Commissioner v. DubersteinSupreme Court of the United States · 1960
- Helvering v. TaylorSupreme Court of the United States · 1935
- Pendergrass v. New York Life Ins. Co.Court of Appeals for the Eighth Circuit · 1950
- National Securities Corp. v. Com'r of Internal RevenueCourt of Appeals for the Third Circuit · 1943
6 more not listed; retrieve them via the Exa API.
3Cited by29 opinions
- South Texas Rice Warehouse Co. v. CommissionerUnited States Tax Court · 1965
- Young & Rubicam, Inc. v. The United StatesUnited States Court of Claims · 1969
- Estate of Goodall v. CommissionerCourt of Appeals for the Eighth Circuit · 1968
- Commissioner v. RissCourt of Appeals for the Eighth Circuit · 1967
- Charles Dodge Christine Y. Roberts v. Commissioner of Internal RevenueCourt of Appeals for the Eighth Circuit · 1993
24 more not listed; retrieve them via the Exa API.