CONSUMERS WATER COMPANY v. United States

OPINION AND ORDER OF THE COURT

GIGNOUX, District Judge.

This is a suit for the recovery of some $23,760.72 federal income taxes and interest alleged to have been erroneously assessed to plaintiffs for the calendar year 1965. The question presented is whether expenses incurred by a taxpayer in connection with the registration of common stock with the Securities and Exchange Commission (the S.E.C.) pursuant to Section 12(g) of the Securities Exchange Act of 1934, 15 U.S.C. § 781(g) (the Exchange Act), qualify for deduction from gross income under Section 162(a) of the Internal Revenue Code of…