Johnstown Bldg. & Loan Ass'n. v. Commissioner
United States Board of Tax Appeals
BUILDING AND LOAN ASSOCIATION. - A corporation organized under state building and loan association laws, which has so far departed from the practices of such associations that by far the larger portion of its business is transacted with nonmembers, held to have forfeited its exemption from income taxes under section 231(4) of the Revenue Acts of 1918 and 1921, and to be subject to taxes imposed by sections 230 and 301 of said Acts.
1Opinion of the Court
APPEAL OF JOHNSTOWN BUILDING & LOAN ASSOCIATION.
Johnstown Bldg. & Loan Ass'n. v. Commissioner
Docket No. 2898.
United States Board of Tax Appeals
6 B.T.A. 463; 1927 BTA LEXIS 3495;
March 12, 1927, Promulgated
BUILDING AND LOAN ASSOCIATION. - A corporation organized under state building and loan association laws, which has so far departed from the practices of such associations that by far the larger portion of its business is transacted with nonmembers, held to have forfeited its exemption from income taxes under section 231(4) of the Revenue Acts of 1918 and 1921, and to be subject to taxes…
2Cases cited7 opinions
- Lilley Building & Loan Co. v. MillerDistrict Court, S.D. Ohio · 1922
- Acklin v. People's Sav. Ass'nDistrict Court, N.D. Ohio · 1923
- Central Building, Loan & Savings Co. v. BowlandDistrict Court, S.D. Ohio · 1914
- Herold v. Park View Building & Loan Ass'nCourt of Appeals for the Third Circuit · 1914
- Johnstown Bldg. & Loan Ass'n. v. CommissionerUnited States Board of Tax Appeals · 1927
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