Seagrave Corp. v. Commissioner
United States Tax Court
Held, volunteer fire companies are not political subdivisions of States where they are located and interest on their obligations is not tax-exempt interest income under section 103(a)(1), I.R.C. 1954.
1Opinion of the Court
The Seagrave Corporation, Petitioner, v. Commissioner of Internal Revenue, Respondent
Seagrave Corp. v. Commissioner
Docket No. 68787
United States Tax Court
38 T.C. 247; 1962 U.S. Tax Ct. LEXIS 137;
May 10, 1962, Filed
Decision will be entered under Rule 50.
Held, volunteer fire companies are not political subdivisions of States where they are located and interest on their obligations is not tax-exempt interest income under section 103(a)(1), I.R.C. 1954.
Allen I. Pretzman, Esq., for the petitioner.
John J. Larkin, Esq., for the respondent.
Mulroney, Judge.
MULRONEY
The respondent determined a…
2Cases cited5 opinions
- Commissioner of Internal Revenue v. Shamberg's EstateCourt of Appeals for the Second Circuit · 1944
- Commissioner of Internal Revenue v. White's EstateCourt of Appeals for the Second Circuit · 1944
- Shamberg v. CommissionerUnited States Tax Court · 1944
- White v. CommissionerUnited States Tax Court · 1944
- Seagrave Corp. v. CommissionerUnited States Tax Court · 1962