Emerit E. Baker, Inc. v. Commissioner
United States Board of Tax Appeals
A corporation otherwise exempt from income tax under section 101(6) of the Revenue Acts of 1934 and 1936 is not deprived of exemption because of payments of annuities made to a donor's widow and of payments for the education of her nieces and nephews pursuant to the will of the donor.
1Opinion of the Court
OPINION.
Smith:
These proceedings, consolidated for hearing, are for the redetermination of deficiencies in petitioner’s income and excess profits tax for 1934,1935, and 1936, as follows:
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The principal facts have been stipulated.
The petitioner was organized as a nonprofit corporation under the laws of the State of Illinois (see chapter 32, § 159, Cahill’s Illinois Revised Statutes, 1931) on December 15, 1924. Its principal organizer, Emerit E. Baker, was the founder and major stockholder of the Kewanee Boiler Co., of Kewanee, Illinois. The purposes for which the petitioner was…
2Cases cited1 opinion
- Lederer v. StocktonSupreme Court of the United States · 1922
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- Francis Edward McGillick Foundation v. CommissionerCourt of Appeals for the Third Circuit · 1960
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