Glensder Textile Co. v. Commissioner
United States Board of Tax Appeals
Petitioner is a limited partnership organized under the Uniform Partnership Law of New York, under which limited partners have a limited liability but have no part in the management of the partnership. The general partners had admitted as limited partners their respective wives and, through trustees, their infant children.
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Petitioner is a limited partnership organized under the Uniform Partnership Law of New York, under which limited partners have a limited liability but have no part in the management of the partnership. The general partners had admitted as limited partners their respective wives and, through trustees, their infant children. In the partnership certificate filed as required by the local statute, they had reserved the power to increase the limited partners at will and to continue the partnership on the death or retirement of a general partner, and the limited partners had the right to confer all…
1Opinion of the Court
GLENSDER TEXTILE CO., PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Glensder Textile Co. v. Commissioner
Docket No. 102729.
United States Board of Tax Appeals
46 B.T.A. 176; 1942 BTA LEXIS 893;
January 27, 1942, Promulgated
Petitioner is a limited partnership organized under the Uniform Partnership Law of New York, under which limited partners have a limited liability but have no part in the management of the partnership. The general partners had admitted as limited partners their respective wives and, through trustees, their infant children. In the partnership certificate filed as…
2Cases cited4 opinions
- Morrissey v. CommissionerSupreme Court of the United States · 1935
- McFeely v. CommissionerSupreme Court of the United States · 1935
- Ames v. DowningNew York Surrogate's Court · 1850
- Glensder Textile Co. v. CommissionerUnited States Board of Tax Appeals · 1942