Legal Opinion
Isaacson v. Clauson
District Court, D. Maine
Decided January 31, 1951No. 515PublishedCited by 2 opinions
1Opinion of the Court
CLIFFORD, District Judge.
This is an action to recover income taxes collected from the executor of the estate of Guy L. Smith for the calendar year 1945, in the amount of $917.60, with interest.
The ultimate issue of the case is whether certain long-term capital gains were income “permanently set aside or to be used exclusively” for certain named charitable corporations, the residuary beneficiaries of a trust established by Smith’s Will, and were, therefore, deductible in the executor’s tax return under section 162(a) of the Internal Revenue Code, 26 U.S.C.A. § 162 (a).1
To settle this issue,…
2Cases cited10 opinions
- Ithaca Trust Co. v. United StatesSupreme Court of the United States · 1929
- Henslee v. Union Planters National Bank & Trust Co.Supreme Court of the United States · 1949
- Merchants Nat. Bank of Boston v. CommissionerSupreme Court of the United States · 1943
- Berry v. KuhlCourt of Appeals for the Seventh Circuit · 1949
- Lincoln Rochester Trust Co v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1950
5 more not listed; retrieve them via the Exa API.
3Cited by2 opinions
- Merrill Trust Company v. United StatesDistrict Court, D. Maine · 1958
- Canal National Bank v. United StatesDistrict Court, D. Maine · 1966