In 1954, Princess Anne Speedway beat the United States Internal Revenue Service (IRS). In the condensed judge's ruling, however, he made a statement (hi-lited) that could apply to most racetracks of the era:
54-2 USTC 9627] United States of America , Plaintiff, v. Princess Anne Speedway, Inc., Jordan A. Pugh, III, Earl W. Johnson, Defendants
In the District Court of the United States for the Eastern District of Virginia, Norfolk Division, Civil Action No. 1767, September 28, 1954
[1939 Code Sec. 3710--same as 1954 Sec. 6332]
Distraint: Necessity for notice of levy and demand.--The United States did not use the proper form for final notice and demand prior to distraint. The District Court held that the failure of the government to levy upon funds in the hands of a creditor of taxpayer precluded it from collecting, under 1939 Code Sec. 3710, certain excise, withholding and social security taxes.
L. S. Parsons, Jr., United States Attorney, 307 Post Office and Court House Building, Norfolk, Virginia, for plaintiff. P. A. Agelasto, Jr., 502 Citizens Bank Building, Norfolk , Virginia , for defendants Jordan H. Pugh, III, et al.
Before HOFFMAN, District Judge.
Opinion from the Bench
(At the conclusion of the evidence and after the arguments of counsel, the Court gave the following oral opinion):
THE COURT: Civil Action No. 1767, in which the United States of America seeks to recover from Princess Anne Speedway, Inc., Jordan A. Pugh, III, and Earl W. Johnson certain taxes alleged to have been due by the corporation known as Princess Anne Speedway, Inc., it appears that the Court has heretofore entered judgment against Princess Anne Speedway, Inc., on the 20th day of May, 1954, same having been by default. Process was never served upon the defendant, Earl W. Johnson, sometimes referred to, I think, as W. Earl Johnson, and he, therefore, is not before the Court. This proceeding remains against Jordan A. Pugh, III, who is alleged by the Government to be the stakeholder of the sum of $800.00. It appears that the corporation known as Princess Anne Speedway, Inc., operated in a very loose manner ever since its incorporation and that it was the lessee from William F. Hudgins and others for certain property located in Princess Anne County, where stock car races and other similar events were held.
"Any Day is Good for Stock Car Racing"
updated by @dave-fulton: 03/24/17 04:42:02PM