HICKS v. UNITED STATES

Civ. A. No. 1160.

205 F.Supp. 343 (1962)

Byron A. HICKS and Agnes C. Hicks, Plaintiffs, v. UNITED STATES of America, Defendant.

United States District Court W. D. Virginia, Roanoke Division.

May 17, 1962.


Attorney(s) appearing for the Case

Joseph Wysor Smith, Hazlegrove, Shackelford & Carr, Roanoke, Va., for Hicks.

Thomas B. Mason, U. S. Atty., Roanoke, Va., and Louis F. Oberdorfer, Edward S. Smith, Myron C. Baum and J. Patrick Whaley, Dept. of Justice, Washington, D. C., for United States.


MICHIE, District Judge.

This case presents the question of whether or not the employees of the First National Exchange Bank of Roanoke (hereinafter called the Bank) are taxable upon portions of certain payments made by the Bank to itself as Trustee under a Profit-Sharing Plan, hereinafter called the Plan, adopted in 1957 as set forth in an indenture dated April 16, 1957, the Internal Revenue Service having, by letter dated September 6, 1957, found the Plan to meet...

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