United Gas Improv. Co. v. Commissioner
United States Board of Tax Appeals
Held, the so-called "bonus" exacted from corporations by the State of Pennsylvania for the privilege of increasing authorized capital stock is not a tax, and does not constitute an allowable deduction in computing taxable net income under the provisions of section 234(a)(3) of the Revenue Act of 1926.
1Opinion of the Court
UNITED GAS IMPROVEMENT COMPANY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
United Gas Improv. Co. v. Commissioner
Docket Nos. 42449, 43662.
United States Board of Tax Appeals
25 B.T.A. 1382; 1932 BTA LEXIS 1388;
April 30, 1932, Promulgated
Held, the so-called "bonus" exacted from corporations by the State of Pennsylvania for the privilege of increasing authorized capital stock is not a tax, and does not constitute an allowable deduction in computing taxable net income under the provisions of section 234(a)(3) of the Revenue Act of 1926.
John H. Minds, Esq., for the petitioner.
O. J.…
2Cases cited10 opinions
- Loan Assn. v. TopekaSupreme Court of the United States · 1875
- New Jersey v. AndersonSupreme Court of the United States · 1906
- Lane County v. OregonSupreme Court of the United States · 1869
- Choctaw, Oklahoma & Gulf Railroad v. HarrisonSupreme Court of the United States · 1914
- Holeproof Hosiery Co. v. CommissionerUnited States Board of Tax Appeals · 1928
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