Name/Title
Letter Tax Exemption Nov 17,1952 from Hunt, Hill & Betts AttorneysEntry/Object ID
001699Tags
E Myron BullScope and Content
E. Myron Bull, Esq.
115 Broad Street
New York 4, N. Y.
Re: Income Tax Exemption of the Association
Dear Myron:
Supplementing my letter to you of the 7th inst., I enclose to you herewith draft of proposed statements as called for by questions 15 and 17 in the form of "Exemption Application" which I enclosed in my letter to you of the 7th inst.
I have looked through the minutes of the Association from the beginning and cannot find any other sales of real estate than those mentioned in the statement. I wonder if Miss Smith could tell by looking at the Endowment Fund ledger entries whether there were any other sales. If so, I would like to have a memorandum of the year and the amount involved. I am not quite sure what area we should give to the land which we still hold and am looking into that a bit.
It seems to me that we should have a better chance of obtaining the exemption under the Internal Revenue Code 101(9) than under sub-division (6), and I see no reason why the application for exemption should not be sent in at this time.
Any suggestions which you may have to make would of course be appreciated. I should like to have the assessed value of the real estate as it appears on the tax bill.
Sincerely yours,
Bob [signature]
RMJ/ba