Legal Opinion
Comptroller of the Treasury, Income Tax Division v. First United Bank & Trust
Court of Appeals of Maryland
Decided August 30, 1990No. 100, September Term, 1988PublishedCited by 6 opinions
1Opinion of the Court
ELDRIDGE, Judge.
This Maryland income tax case involves a distribution to a shareholder made in 1985 by a money market mutual fund. The mutual fund’s income from which the distribution was made was derived in two ways. One source (accounting for 53.55% of the income) was interest paid by the United States directly to the mutual fund as a holder of federal *354debt obligations. The other source of the distribution (accounting for 46.45% of the income) was income earned by the mutual fund in transactions known as repurchase agreements (repos) which involved United States government securities and…
2Cases cited25 opinions
- Davis v. Michigan Department of the TreasurySupreme Court of the United States · 1989
- Burks v. LaskerSupreme Court of the United States · 1979
- Helvering v. F. & R. Lazarus & Co.Supreme Court of the United States · 1939
- Plummer v. ColerSupreme Court of the United States · 1900
- Des Moines National Bank v. FairweatherSupreme Court of the United States · 1923
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3Cited by6 opinions
- Finci v. American Casualty Co. of ReadingCourt of Appeals of Maryland · 1991
- Nebraska Department of Revenue v. LoewensteinSupreme Court of the United States · 1994
- Colonial Trust III, & Investment Co. Institute v. Director, Division of TaxationNew Jersey Tax Court · 1997
- Comptroller of the Treasury, Income Tax Division v. First United Bank & TrustCourt of Appeals of Maryland · 1990
- Loewenstein v. StateNebraska Supreme Court · 1993
1 more not listed; retrieve them via the Exa API.