Legal Opinion
Commissioner of Internal Revenue v. Product Reporter Co
Court of Appeals for the Seventh Circuit
Decided November 4, 1953No. 10771PublishedCited by 16 opinions
1Opinion of the Court
DUFFY, Circuit Judge.
This is an appeal from a decision of the Tax Court. 18 T.C. 69. It involves income and excess profit taxes for the years 1944, 1945 and 1946.
Taxpayer is á service corporation for the wholesale fruit and vegetable industry. Since 1930 it shared profits with its employees by means of year-end bonuses. In 1941, at the instance of the company, certain employees organized a non-profit corporation. Trustees, elected by the employee members of that corporation, entered into a trust agreement with the company, referred to as the 15-50 Year Club. This trust was to receive,…
2Cases cited3 opinions
- Tavannes Watch Co. v. Commissioner of Internal Rev.Court of Appeals for the Second Circuit · 1949
- Lincoln Electric Co. Employees' Profit-Sharing Trust v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1951
- Lincoln Electric Co. Employees' Profit-Sharing Trust v. CommissionerUnited States Tax Court · 1950
3Cited by16 opinions
- Bennett Paper Corporation and Subsidiaries v. Commissioner of Internal RevenueCourt of Appeals for the Eighth Circuit · 1983
- Bennett Paper Corp. & Subsidiaries v. CommissionerUnited States Tax Court · 1982
- Wesley Heat Treating Co. v. CommissionerUnited States Tax Court · 1958
- Mississippi River Fuel Corporation v. The United StatesUnited States Court of Claims · 1963
- McClintock-Trunkey Co. v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1954
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