Celon Co. v. Department of Taxation

The additional assessment embraced items reported in petitioner’s income-tax returns for the fiscal years ending June 30th of each of the years 1947 to 1949, inclusive. Apparently, however, the items for the years 1947 and 1948 have been adjusted and the sole question presented on this appeal is as to the method of accounting to be employed in determining the Wisconsin income of the petitioner for the fiscal year ending June 30, 1949.

In the 1947 statutes the pertinent part of sec. 71.07 (2) read as follows:

“Persons engaged in business within and without the state shall be taxed only on such…