Legal Opinion
Stone v. Lynch
Supreme Court of North Carolina
Decided January 30, 1985No. 340PA84PublishedCited by 6 opinions
1Opinion of the Court
*741MARTIN, Justice.
The question dispositive of this appeal is whether the strike benefits Mr. Stone received were gifts under N.C.G.S. 105-141 (b)(3). This statute provides in part:(b) The words “gross income” do not include the following items, which shall be exempt from taxation under this Division, but shall be reported in such form and manner as may be prescribed by the Secretary of Revenue:(3) The value of property acquired by gift, bequest, devise or descent ....
We find no definition of “gift” in either the income taxation Article or the gift taxation statute, N.C.G.S. 105-188. The only…
2Cases cited11 opinions
- Commissioner v. DubersteinSupreme Court of the United States · 1960
- Helvering v. American Dental Co.Supreme Court of the United States · 1943
- United States v. KaiserSupreme Court of the United States · 1960
- Carolina Helicopter Corp. v. Cutter Realty Co.Supreme Court of North Carolina · 1964
- Exum v. LynchSupreme Court of North Carolina · 1924
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3Cited by6 opinions
- State v. EtheridgeSupreme Court of North Carolina · 1987
- State v. CreasonSupreme Court of North Carolina · 1985
- Lawing v. LawingCourt of Appeals of North Carolina · 1986
- State v. LintonCourt of Appeals of North Carolina · 2001
- State v. EtheridgeSupreme Court of North Carolina · 1987
1 more not listed; retrieve them via the Exa API.