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STATE TAX COMMISSIONER v. DU PONT

118 A.2d 469 (1955)

STATE TAX COMMISSIONER, Appellant, v. Irenee DU PONT, Sr., Trustee for Irenee du Pont, Jr., under a Declaration of Trust dated June 4, 1924, Appellee. STATE TAX COMMISSIONER, Appellant, v. WILMINGTON TRUST COMPANY, Trustee for various Trusts, Appellee.

Supreme Court of Delaware.

November 16, 1955.

Attorney(s) appearing for the Case

Herbert L. Cobin, Chief Deputy Atty. Gen., and Wilfred J. Smith, Jr., Deputy Atty. Gen., for appellant.

William S. Potter (Henry R. Horsey, Wilmington, with him on the brief), of Berl Potter & Anderson, Wilmington, for appellees.

SOUTHERLAND, C. J., and WOLCOTT and BRAMHALL, JJ., sitting.

SOUTHERLAND, Chief Justice.

These cases call for a construction of the provisions of the state income tax law of 1949 relating to trusts. Two questions are presented.

1. When income of a trust is accumulated for future distribution and not distributed to the beneficiaries of the trust, and federal income and other taxes on such income are paid, are the amounts of tax so paid excludable — or deductible &...

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