Strong v. United States

The facts are admitted. From these it appears that the partnership of Strong, Hewat & Co., originated in 1898 and was engaged in business until February 28,1918, when it was dissolved. Upon the dissolution of the partnership a corporation was formed on March 1, 1918, under the name of' Strong, Hewat & Co. (Inc.), which took over all the assets and liabilities of the old firm and continued its business. The partnership was required under the revenue act of 1917 and the regulations to file an excess-profits tax return for the six months’ period ending February 28, 1918, the date of its…