115 T.C. No. 33
UNITED STATES TAX COURT
SHERWIN-WILLIAMS COMPANY EMPLOYEE HEALTH PLAN TRUST, KEY TRUST
COMPANY OF OHIO, TRUSTEE, Petitioner v.
COMMISSIONER OF INTERNAL REVENUE, Respondent
Docket No. 21333-97. Filed November 9, 2000.
Trust (T), a tax-exempt voluntary employees’
beneficiary association described in sec. 501(c)(9),
I.R.C., set aside for each year at issue a certain
amount of investment income to provide for the payment
of reasonable costs of administration directly con-
nected with providing for the payment of health care
benefits (amount of investment income at issue).
Held: In determining for each year at issue the
unrelated business taxable income (UBTI) of T under
sec. 512(a)(3)(A), I.R.C., the amount of investment
income at issue is subject to the limitation prescribed
by sec. 512(a)(3)(E)(i), I.R.C. Held, further, in
calculating for each year at issue the limitation
prescribed by sec. 512(a)(3)(E)(i), I.R.C., the amount
of assets that T set aside to provide for the payment
of health care benefits, including reasonable costs of
administration directly connected with providing for
the payment of such benefits, is not to be reduced by
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