Name/Title
Letter for Tax Exemption from Hunt, Hill & Betts Nov 7, 1952Entry/Object ID
001702Tags
E Myron Bull, Robert McLeod JacksonScope and Content
Document Transcription: mn-1551
HUNT, HILL & BETTS
COUNSELLORS AT LAW-PROCTORS IN ADMIRALTY
EQUITABLE BUILDING
120 BROADWAY
NEW YORK 5, N. Y.
November 7, 1952.
E. Myron Bull, Esq.
115 Broad Street
New York 4, N. Y.
In re tax exemption of Bull Family Association
Dear Myron:
I have only now been able to go further into the above matter. The
Exemption Application blank which I sent you sometime ago applies to
corporations exempted from income tax under Section 101(6) of the
Internal Revenue Code which could apply to our Association only if it
were considered as a literary or educational organization, and it seems
that under a comparatively recent requirement of the Commissioner of
Internal Revenue, organizations exempt under Section 101(6) are required
to fill out and file a form known as 990-A which is quite a complicated
form, of which I enclose a copy herewith.
There is another ground of exemption provided by Section 101(9) cover-
ing clubs organized and operated for pleasure, recreation and other
non-profitable purposes. It seems to me that our Association might
more readily come within Section 101(9) than 101(6). I have filled out
and enclose to you herewith a copy of Exemption Application under Section
101(9), but I have not attached the statement required by Question 15
with regard to the amounts received for sales of property and disposition of the proceeds. A number of separate sales of real estate were
made in past years and it would take a certain amount of study to
prepare this statement.
Nor have I prepared the statement of receipts and expenditures required
by Question 17, but this statement could be more easily prepared.
I am inclined to apply for exemption under 101(9), and if we did so we
could be guided by the reply to our application, which would come from
Washington, as to our next step.
If you would care to keep them, you may retain the forms enclosed.
Otherwise they can be sent back to me.
With regard to the roof of the east side of the barn, I regret to report
that Charles McMann, the carpenter on whom I relied, has been taken
seriously ill and the doctors give no hope of his recovery. I have asked
another carpenter for an estimate. This other man charges $16 a day as
against McMann's $14. Please let me have your views.
Sincerely yours,
Bob.
RMJ/ba