Hertz Corp. v. United States

This case, like No. 141, Massey Motors, Inc., v. United States, and No. 143, Commissioner v. Evans, both decided today, ante, p. 92, involves the depreciation allowable on cars and trucks used by petitioner’s predecessor in its automobile rental business during the years 1954-1956, inclusive. The taxpayer elected to avail itself of the accelerated method of depreciation provided in § 167 (b) (2) 1 of the Internal Revenue Code of 1954 — known as “the declining balance method.” Section 167 (c) of the Code limits the use of this method to property “with a useful life of 3 years or more.” The…