Packard Motor Car Co. v. United States

The question in this case is the proper method of determining the consolidated net income of the plaintiff and its affiliated corporations for the fiscal year ended August 31, 1918 (40 Stat. 1058-1096), for income and profits tax purposes under titles 2 and 3 of the Revenue Act of 1918.

Plaintiff asks judgment for $180,424.15 with interest at the rate of one-half of 1 per cent, per month from October 15, 1926, and it is stipulated that if plaintiff is correct in its contention as to the method of determining consolidated net income for excess profits tax purposes it is entitled to judgment for…