Semmes v. Commissioner
United States Tax Court
Held, the bequest of stock in trust to the wife as trustee with the wife to receive the income for life with power to encroach upon the corpus "for her own benefit, at any time she sees fit," did not qualify as a marital deduction.
1Opinion of the Court
opinion.
Mulronev, Judge:
The respondent determined a deficiency in estate tax of petitioner’s estate in the sum of $27,248.53.
All of the facts are stipulated and they are found accordingly. The parties also stipulate that the sole issue for decision is: “Whether the 255 shares of common capital stock in Semmes Bag Company, Inc., having a value of $247,916.10, as bequeathed in Item Y of the decedent’s [Thomas J. Semmes] last Will and Testament qualifies as a marital deduction.”
Thomas J. Semmes, a resident of Shelby County, Tennessee, died testate on March 6, 1956. His will, which had been…
2Cases cited10 opinions
- May v. CommissionerUnited States Tax Court · 1959
- Comer v. CommissionerUnited States Tax Court · 1959
- Noble v. CommissionerUnited States Tax Court · 1959
- Waller v. SprolesTennessee Supreme Court · 1929
- Black v. PettigrewCourt of Appeals of Tennessee · 1953
5 more not listed; retrieve them via the Exa API.
3Cited by12 opinions
- Estate of Opal v. CommissionerUnited States Tax Court · 1970
- Estate of Landers v. CommissionerUnited States Tax Court · 1962
- Estate of Thomas J. Semmes, Deceased, Elaine P. Semmes v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1961
- Field v. CommissionerUnited States Tax Court · 1963
- Spero v. CommissionerUnited States Tax Court · 1960
7 more not listed; retrieve them via the Exa API.