Ft. Howard Paper Co. v. Commissioner
United States Tax Court
(1) P was engaged in the manufacture and distribution of disposable paper products. Its deductions for depreciation on its buildings were computed by using a 28-year composite useful life, based on its claim of anticipated obsolescence. Held, P's evidence did not establish anticipated economic obsolescence; the Commissioner's determination of a 43-year composite useful life is sustained.
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(1) P was engaged in the manufacture and distribution of disposable paper products. Its deductions for depreciation on its buildings were computed by using a 28-year composite useful life, based on its claim of anticipated obsolescence. Held, P's evidence did not establish anticipated economic obsolescence; the Commissioner's determination of a 43-year composite useful life is sustained. (2) For 1970, P claimed an investment credit for an addition to its power plant, including a locker-washroom and turbine room. Held, the locker-washroom was a building within the meaning of sec.…
1Opinion of the Court
FORT HOWARD PAPER COMPANY, Petitioner v. COMMISSIONER OF INTERNAL REVENUE, Respondent
Ft. Howard Paper Co. v. Commissioner
Docket No. 2982-74.
United States Tax Court
T.C. Memo 1977-422; 1977 Tax Ct. Memo LEXIS 20; 36 T.C.M. (CCH) 1711; T.C.M. (RIA) 770422;
December 12, 1977, Filed(1) P was engaged in the manufacture and distribution of disposable paper products. Its deductions for depreciation on its buildings were computed by using a 28-year composite useful life, based on its claim of anticipated obsolescence. Held, P's evidence did not establish anticipated economic obsolescence; the…
2Cases cited49 opinions
- Welch v. HelveringSupreme Court of the United States · 1933
- Helvering v. TaylorSupreme Court of the United States · 1935
- Burnet v. HoustonSupreme Court of the United States · 1931
- Roberts v. CommissionerUnited States Tax Court · 1974
- Massey Motors, Inc. v. United StatesSupreme Court of the United States · 1960
44 more not listed; retrieve them via the Exa API.
3Cited by1 opinion
- Northern States Power Co. v. United StatesDistrict Court, D. Minnesota · 1997