Central Inv. Corp. v. Commissioner

Central Investment Corporation (a Corporation), Petitioner, v. Commissioner of Internal Revenue, Respondent

Central Inv. Corp. v. Commissioner

Docket No. 7959

United States Tax Court

9 T.C. 128; 1947 U.S. Tax Ct. LEXIS 141;

July 30, 1947, Promulgated

Decision will be entered for the respondent.

California franchise tax imposed for the privilege of doing business during 1944, which tax is measured by income realized in 1943, held to accrue and be deductible for Federal tax purposes in 1944.

Joseph D. Brady, Esq., and Thomas R. Dempsey, Esq., for the petitioner.

H. A. Melville, Esq., for the respondent.

H…