MOYE v. CURRIE

No. 451.

117 S.E.2d 30 (1960)

253 N.C. 363

Elizabeth W. MOYE v. James S. CURRIE, Commissioner of North Carolina Department of Revenue.

Supreme Court of North Carolina.

November 23, 1960.


Attorney(s) appearing for the Case

McDougle, Ervin, Horack & Snepp, Charlotte, for plaintiff.

Atty. Gen. T. W. Bruton, Asst. Attys. Gen. Peyton B. Abbott and Lucius W. Pullen, for defendant.


DENNY, Justice.

The question for determination on the defendant's appeal is whether or not a North Carolina resident, who was co-owner of an established Georgia business and who for business reasons transferred her interest therein as settlor of a living trust to a trustee for her own benefit, is entitled to the deduction allowed by G.S. § 105-147, subd. 10 (b), before its repeal by Chapter 1340, Session Laws of 1957, on account of income received by the beneficiary...

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