Legal Opinion
Everett v. State, Department of Revenue & Finance
Supreme Court of Iowa
Decided May 15, 1991No. 90-681PublishedCited by 4 opinions
1Opinion of the Court
ANDREASEN, Justice.
The director of the Iowa Department of Revenue and Finance (director) ruled in a contested case decision that income which' is derived from repurchase agreements involving United States government securities and paid by á mutual fund to its shareholders is not exempt from state taxation. The taxpayers appealed to the district court which reversed the director’s decision on this issue. .The State has appealed. We reverse and remand.
I. Background. ■
In 1981 and 1982, William ánd Edna Everett, shareholders in the Trust for Short-Term Governmental Securities (trust), reported as…
2Cases cited10 opinions
- American National Bank of Austin v. United StatesCourt of Appeals for the Fifth Circuit · 1970
- First National Bank of Atlanta v. Bartow County Board of Tax AssessorsSupreme Court of the United States · 1985
- Andras v. Department of RevenueAppellate Court of Illinois · 1987
- In Re Thomas C. Sawyer EstateSupreme Court of Vermont · 1987
- Matz v. Department of TreasuryMichigan Court of Appeals · 1986
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3Cited by4 opinions
- Nebraska Department of Revenue v. LoewensteinSupreme Court of the United States · 1994
- Harrington Trucking, Inc. v. Iowa Department of TransportationSupreme Court of Iowa · 1995
- Loewenstein v. StateNebraska Supreme Court · 1993
- Loewenstein v. StateNebraska Supreme Court · 1993