Cornet & Zeibig Trust v. Commissioner
This text of 21 B.T.A. 1352 (Cornet & Zeibig Trust v. Commissioner) is published on Counsel Stack Legal Research, covering United States Board of Tax Appeals primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Opinion
[1354]*1354OPINION.
As we view this case the issue presented is one purely of fact. We see no need for any discussion or review of the facts, for they clearly establish but one conclusion, namely, that the trust agreement was never carried out, there was no trust or taxable entity created which carried on any business or earned any income, and that the business was a partnership business, the income of which was produced by the personal services rendered by the four partners, Henry L. Cornet, Fred G. Zeibig, Henry L. Cornet, Jr., and Charles H. Zeibig.
The respondent erred in determining that Cornet & Zeibig Trust was an association taxable as a corporation for the years 1922 and 1923. Cf. Bardwell, Pritchard & Co., 20 B. T. A. 350.
Judgment will he entered for the 'petitioner.
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Cite This Page — Counsel Stack
21 B.T.A. 1352, 1931 BTA LEXIS 2208, Counsel Stack Legal Research, https://law.counselstack.com/opinion/cornet-zeibig-trust-v-commissioner-bta-1931.