Anclote Psychiatric Center v. Commissioner (II)

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July 27, 1998

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8063 Psychiatric Hospitals
622210 Psychiatric and Substance Abuse Hospitals
federal taxation
fair market value (FMV), internal revenue service (IRS)
Anclote Psychiatric Center v. Commissioner (II)
T.C. Memo 1998-273, 1998 Tax Ct. Memo LEXIS 276
US
Federal Court
United States Tax Court
Herbert Blanton (for taxpayer)<br>Hugh Jack Shelton (for IRS)
Wright

Summary

The primary issue is whether petitioner's tax-exempt status should be revoked, and whether the sale of its hospital in May 1983 was for less than fair market value.

See Also

Sale of Nonprofit Facility Results in Inurement to Buyers; Court Refuses to Receive IRS Expert's Report in Evidence

Legal and Court Case Update
September 1998

According to the court, "The primary issue for decision is whether petitioner's tax-exempt status should be revoked."