Legal Opinion
Estate of Wesson v. United States
District Court, S.D. Mississippi
Decided February 8, 1994No. 2:93-cv-00062PublishedCited by 8 opinions
1Opinion of the Court
MEMORANDUM ORDER
DAN M. RUSSELL, Jr., District Judge.
This matter is before the Court on Plaintiffs Motion for Summary Judgment and Defendant’s Cross-Motion for Summary Judgment. The sole issue presented for resolution is whether punitive damages received in a bad-faith action should be excludable from taxable gross income under 26 U.S.C. secs. 61 & 104(a)(2).
Background
The relevant facts are undisputed. In 1982, beneficiaries of a life insurance policy filed a bad-faith action in the Jackson County Circuit Court of Pascagoula, Mississippi, against Mutual Life Insurance Company of New York…
2Cases cited22 opinions
- Celotex Corp. v. Catrett, Administratrix of the Estate of CatrettSupreme Court of the United States · 1986
- Gertz v. Robert Welch, Inc.Supreme Court of the United States · 1974
- Helvering v. CliffordSupreme Court of the United States · 1940
- Commissioner v. Glenshaw Glass Co.Supreme Court of the United States · 1955
- United States v. BurkeSupreme Court of the United States · 1992
17 more not listed; retrieve them via the Exa API.
3Cited by8 opinions
- Jack R. Hawkins, Cynthia J. Hawkins, Husband & Wife v. United StatesCourt of Appeals for the Ninth Circuit · 1994
- Ray L. Wesson, Estate of Ray Wesson, Deceased, E. Hall, Administrator v. United StatesCourt of Appeals for the Fifth Circuit · 1995
- Ernest and Mary C. Horton v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1994
- Brabson v. United StatesDistrict Court, D. Colorado · 1994
- Ernest and Mary C. Horton v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1994
3 more not listed; retrieve them via the Exa API.