Crawford v. Commission

Edward H. Howell, Judge.

The tax commission disallowed plaintiffs’ special treatment of capital gains from the sale of certain corporate stock and plaintiffs appealed. The disallowance was based on the ground that plaintiffs’ election to report the sale of the stock for special capital gains treatment was not made within the time required by ORS 316.432 in effect during 1961 and 1962, the years involved. That statute provided :

“(1) The taxpayer in order to qualify for special treatment of his capital gains shall make an election to do so by making a statement in substantially the following…