555, Inc. v. Commissioner
United States Tax Court
Primarily for the purpose of encouraging and retaining its employees, petitioner's directors on September 29, 1943, passed a resolution appropriating not more than $ 37,000 establishing an employees' pension plan, and the same day a tentative trust agreement was executed. Both the resolution and the tentative trust agreement recite that the fund shall be consistent with regulations governing same.
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Primarily for the purpose of encouraging and retaining its employees, petitioner's directors on September 29, 1943, passed a resolution appropriating not more than $ 37,000 establishing an employees' pension plan, and the same day a tentative trust agreement was executed. Both the resolution and the tentative trust agreement recite that the fund shall be consistent with regulations governing same. On September 30, 1943, the close of the fiscal year, petitioner's employees were informed of this action. On November 27, 1943, petitioner mailed its check in the amount of $ 37,000 to the escrow…
1Opinion of the Court
555, Incorporated, Petitioner, v. Commissioner of Internal Revenue, Respondent
555, Inc. v. Commissioner
Docket No. 18640
United States Tax Court
15 T.C. 671; 1950 U.S. Tax Ct. LEXIS 44;
November 20, 1950, Promulgated
Decision will be entered under Rule 50.
Primarily for the purpose of encouraging and retaining its employees, petitioner's directors on September 29, 1943, passed a resolution appropriating not more than $ 37,000 establishing an employees' pension plan, and the same day a tentative trust agreement was executed. Both the resolution and the tentative trust agreement recite that the fund…
2Cases cited7 opinions
- Surface Combustion Corp. v. CommissionerUnited States Tax Court · 1947
- 555, Inc. v. CommissionerUnited States Tax Court · 1950
- Nolen v. HardenSupreme Court of Arkansas · 1884
- Times Publishing Co. v. CommissionerUnited States Tax Court · 1949
- Williams v. SmithSupreme Court of Arkansas · 1899
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