Morris Plan Bank v. Commissioner
United States Board of Tax Appeals
The petitioner, operating under a perpetual charter, made a lump sum payment for an exclusive license to use "The Morris Plan," a copyrighted system for conducting a loan and investment business, in a certain territory, and other rights and benefits, including personal services rendered and to be rendered to it and expenses incurred in its organization.
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The petitioner, operating under a perpetual charter, made a lump sum payment for an exclusive license to use "The Morris Plan," a copyrighted system for conducting a loan and investment business, in a certain territory, and other rights and benefits, including personal services rendered and to be rendered to it and expenses incurred in its organization. In the absence of proof of what portion of the lump sum was paid for the license, but without deciding whether or not the license could be in any event treated as an exhaustible asset, the action of the respondent in refusing to allow any sum…
1Opinion of the Court
THE MORRIS PLAN BANK OF CLEVELAND, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Morris Plan Bank v. Commissioner
Docket No. 68226.
United States Board of Tax Appeals
31 B.T.A. 253; 1934 BTA LEXIS 1130;
October 3, 1934, Promulgated
The petitioner, operating under a perpetual charter, made a lump sum payment for an exclusive license to use "The Morris Plan," a copyrighted system for conducting a loan and investment business, in a certain territory, and other rights and benefits, including personal services rendered and to be rendered to it and expenses incurred in its organization. In…
2Cases cited1 opinion
- Morris Plan Bank v. CommissionerUnited States Board of Tax Appeals · 1934