Legal Opinion
Exchange & Savings Bank of Berlin v. United States
District Court, D. Maryland
Decided June 4, 1965No. Civ. A. No. 14790PublishedCited by 1 opinion
1Opinion of the Court
MICHIE, District Judge.
This action was instituted by the Exchange and Savings Bank of Berlin, Maryland, for the recovery of $30,252.47 and interest thereon which the bank paid in income tax and assessed interest for the years 1957, 1958, 1959 and 1960.
The question at issue is whether the taxpayer bank qualifies during those years for exemption from taxation under section 7507(b) of the Internal Revenue Code of 1954.1
*840The case comes to me on cross motions for summary judgment. There being no real contest as to the facts, they appear as hereinafter set out.
The plaintiff, the Exchange and Savings…
2Cases cited5 opinions
- Farmers & Merchants Bank v. Commissioner of Int. Rev.Court of Appeals for the Eighth Circuit · 1949
- Clinton Trust Co. v. United StatesUnited States Court of Claims · 1943
- De Kalb Trust & Savings Bank v. United StatesCourt of Appeals for the Seventh Circuit · 1958
- United States v. Bank of Leipsic CompanyCourt of Appeals for the Sixth Circuit · 1959
- Bank of Leipsic Company v. United StatesCourt of Appeals for the Sixth Circuit · 1961
3Cited by1 opinion
- Ned Miller and Frances Miller v. The United States of AmericaCourt of Appeals for the Second Circuit · 1974