Tipton & Kalmbach, Inc. v. Commissioner
United States Tax Court
Petitioner instituted this action for a declaratory judgment pursuant to sec. 7476, I.R.C. 1954. The petitioner seeks a determination with respect to the qualification of its profit-sharing plan. In 1971 and 1972, petitioner experienced reductions in work force that resulted in reductions in the number of plan participants of 34 percent and 51 percent, respectively.
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Petitioner instituted this action for a declaratory judgment pursuant to sec. 7476, I.R.C. 1954. The petitioner seeks a determination with respect to the qualification of its profit-sharing plan. In 1971 and 1972, petitioner experienced reductions in work force that resulted in reductions in the number of plan participants of 34 percent and 51 percent, respectively. The reductions in work force were due to a reduction in the amount of work available to petitioner, and petitioner was not able to prevent the reductions in force. Held, that the discharge of 34 percent and 51 percent of plan…
1Opinion of the Court
OPINION
Panuthos, Special Trial Judge-.
Petitioner has instituted this action pursuant to section 7476(a)(2)(B)1 for a declaratory judgment that the Tipton & Kalmbach, Inc. Profit Sharing Retirement Plan has been, and continues to be, a qualified plan under section 401(a). This case was assigned pursuant to the provisions of section 7456(d) and Rule 218(a).
This case was submitted for decision on a stipulated administrative record under Rule 122. The stipulated record is incorporated herein by this reference.
Petitioner Tipton & Kalmbach, Inc., is a corporation with its principal office located…
2Cases cited9 opinions
- United States v. SanchezSupreme Court of the United States · 1950
- Ed & Jim Fleitz, Inc. v. CommissionerUnited States Tax Court · 1968
- Loevsky v. CommissionerUnited States Tax Court · 1971
- BBS Associates, Inc. v. CommissionerUnited States Tax Court · 1980
- Wishner v. St. Luke's Hospital CenterDistrict Court, S.D. New York · 1982
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3Cited by17 opinions
- Sage v. Automation, Inc. Pension Plan & TrustCourt of Appeals for the Tenth Circuit · 1988
- Sage v. Automation, Incorporated Pension Plan And TrustCourt of Appeals for the Tenth Circuit · 1988
- In Re Gulf Pension LitigationDistrict Court, S.D. Texas · 1991
- Kreis v. Charles TownleyCourt of Appeals for the Sixth Circuit · 1987
- Halliburton Co. v. CommissionerUnited States Tax Court · 1993
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