Bellingham Cold Storage Co. v. Commissioner
United States Tax Court
Petitioner leased improved properties on 50-year and 46-year, 11-month leases from the Port, a public agency which financed construction of the improvements through the sale of industrial development bonds.
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Petitioner leased improved properties on 50-year and 46-year, 11-month leases from the Port, a public agency which financed construction of the improvements through the sale of industrial development bonds. Under the 50-year lease, covering 12.75 acres, the monthly rental was $ 7,900 for the first 16 months, $ 7,500 for the next 17 years, 5 months, $ 4,750 for the next 4 years and 2 months, and thereafter was to be renegotiated at a rate not less than the Port's then average ground rent for other tenants. Under the 46-year, 11-month lease, covering 1.96 acres, the rent was $ 4,500 for 30…
1Opinion of the Court
Bellingham Cold Storage Company, Petitioner v. Commissioner of Internal Revenue, Respondent
Bellingham Cold Storage Co. v. Commissioner
Docket No. 9144-72
United States Tax Court
64 T.C. 51; 1975 U.S. Tax Ct. LEXIS 163;
April 16, 1975, Filed
Decision will be entered under Rule 155.
Petitioner leased improved properties on 50-year and 46-year, 11-month leases from the Port, a public agency which financed construction of the improvements through the sale of industrial development bonds. Under the 50-year lease, covering 12.75 acres, the monthly rental was $ 7,900 for the first 16 months, $ 7,500 for…
2Cases cited14 opinions
- Welch v. HelveringSupreme Court of the United States · 1933
- American Metal Products Corporation v. Commissioner of Internal Revenue, Adler Metal Products Corporation v. Commissioner of Internal RevenueCourt of Appeals for the Eighth Circuit · 1961
- American Metal Products Corp. v. CommissionerUnited States Tax Court · 1960
- Southern Ford Tractor Corp. v. CommissionerUnited States Tax Court · 1958
- Baton Coal Co. v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1931
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