Estate of Strauss v. Commissioner
United States Tax Court
Decedent was a member of the New York Stock Exchange. The members are required by the constitution to pay $ 15 to the trustees of a fund of the Exchange upon being admitted to membership and to make a voluntary gift of the same amount upon the death of any member of the Exchange. Upon proof of the death of any member, the Exchange is pledged to pay, out of the moneys so collected, the sum of $ 20,000 to certain beneficiaries designated in the constitution.
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Decedent was a member of the New York Stock Exchange. The members are required by the constitution to pay $ 15 to the trustees of a fund of the Exchange upon being admitted to membership and to make a voluntary gift of the same amount upon the death of any member of the Exchange. Upon proof of the death of any member, the Exchange is pledged to pay, out of the moneys so collected, the sum of $ 20,000 to certain beneficiaries designated in the constitution. Failure to continue as a member until death results in the termination of all rights in the fund. Decedent's widow was paid $ 20,000 by…
1Opinion of the Court
OPINION.
Hill, Judge:
Respondent determined a deficiency in estate tax against the petitioner in the amount of $5,883.93. The only question presented is whether the amount of $20,000 or any part thereof received by the decedent’s widow pursuant to a provision of the constitution of the New York Stock Exchange is includible in the gross estate of the decedent under section 811 (g) of the Internal Revenue Code.
The facts were stipulated and they are so found.
This proceeding is brought by Marjorie F. Treganowan, executrix of the last will and testament of the decedent, Max Strauss, also known as…
2Cases cited9 opinions
- Helvering v. Le GierseSupreme Court of the United States · 1941
- Ritter v. Mutual Life Ins. Co. of NYSupreme Court of the United States · 1898
- Goldstone v. United StatesSupreme Court of the United States · 1945
- Estate of Keller v. CommissionerSupreme Court of the United States · 1941
- People v. HicksNew York Court of Appeals · 1941
4 more not listed; retrieve them via the Exa API.
3Cited by26 opinions
- Commissioner of Internal Revenue v. TreganowanCourt of Appeals for the Second Circuit · 1950
- Rowan v. CommissionerUnited States Tax Court · 1954
- Estate of Edmonds v. CommissionerUnited States Tax Court · 1951
- Estate of Smead v. CommissionerUnited States Tax Court · 1982
- Tighe v. CommissionerUnited States Tax Court · 1959
21 more not listed; retrieve them via the Exa API.