Morriss Realty Co. v. Commissioner
United States Board of Tax Appeals
1. Where a father creates a trust and constitutes his sons trustees, the avowed purpose of the trust being the liquidation of the settlor's property, no control over the trustees being vested in the beneficiaries, held, a trust and not an association.
Read the full summary
1. Where a father creates a trust and constitutes his sons trustees, the avowed purpose of the trust being the liquidation of the settlor's property, no control over the trustees being vested in the beneficiaries, held, a trust and not an association. (Trust No. 1.) 2. Where the settlors of a trust are two brothers, and their children are made trustees and beneficiaries, the purpose being liquidation of the property, the control of trustees by beneficiaries being limited and the beneficiaries' certificates of interest nontransferable, held, a trust and not an association. (Trust No. 2.)
1Opinion of the Court
*1082OPINION.
Matthews:
Since no evidence was introduced with respect to the minor issues raised by petitioners, we may regard them as abandoned.
The sole issue, and the only one argued by counsel, is whether the two trusts are taxable as trusts or as associations under the identical provision of the Revenue Acts of 1924 and 1926:
Sec. 2. (a) When used in this Act—
[[Image here]]
*1083(2) The term “ corporation ” includes associations, joint-stock companies, and insurance companies.
The petitioner attempts to raise a question upon section 704 of the Revenue Act of 1928, which provides in substance that a…
2Cases cited7 opinions
- Flint v. Stone Tracy Co.Supreme Court of the United States · 1911
- Hecht v. MalleySupreme Court of the United States · 1924
- Burk-Waggoner Oil Assn. v. HopkinsSupreme Court of the United States · 1925
- United States v. Emery, Bird, Thayer Realty Co.Supreme Court of the United States · 1915
- Zonne v. Minneapolis SyndicateSupreme Court of the United States · 1911
2 more not listed; retrieve them via the Exa API.
3Cited by7 opinions
- Swanson v. CommissionerUnited States Board of Tax Appeals · 1934
- Ray Oil Co. v. CommissionerUnited States Board of Tax Appeals · 1933
- Brooklyn Trust Co. v. CommissionerUnited States Board of Tax Appeals · 1935
- Dunbar v. CommissionerUnited States Board of Tax Appeals · 1931
- Morriss Realty Co. v. CommissionerUnited States Board of Tax Appeals · 1931
2 more not listed; retrieve them via the Exa API.