P.L.L. Scholarship Fund v. Commissioner
United States Tax Court
Petitioner was incorporated as a nonprofit corporation under Iowa statutes for the purpose of raising money to be used for providing college scholarships. The money was raised from the operation of bingo games on the premises of the Pastime Lounge. Held: Petitioner was not operated exclusively for exempt purposes under the provisions of sec. 501(c)(3), I.R.C. 1954, and sec. 1.501(c)(3)-1(c)(1), Income Tax Regs. Therefore, it is not exempt from Federal income tax.
1Opinion of the Court
P.L.L. Scholarship Fund, Petitioner v. Commissioner of Internal Revenue, Respondent
P.L.L. Scholarship Fund v. Commissioner
Docket No. 29579-82X
United States Tax Court
82 T.C. 196; 1984 U.S. Tax Ct. LEXIS 115; 82 T.C. No. 17;
January 26, 1984, Filed
Decision will be entered for the respondent.
Petitioner was incorporated as a nonprofit corporation under Iowa statutes for the purpose of raising money to be used for providing college scholarships. The money was raised from the operation of bingo games on the premises of the Pastime Lounge. Held: Petitioner was not operated exclusively for exempt…
2Cases cited10 opinions
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- Clarence Labelle Post No. 217, Veterans of Foreign Wars of the United States v. United StatesCourt of Appeals for the Eighth Circuit · 1978
- Smith-Dodd Businessman's Asso. v. CommissionerUnited States Tax Court · 1975
- Presbyterian & Reformed Pub. Co. v. CommissionerUnited States Tax Court · 1982
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