G.D. Searle & Co. v. Commissioner
United States Tax Court
CONTENTSPageHeadnote255Introduction and Statement of Issues256Findings of Fact257I.History and Background of G.D. Searle & Co.257A. Petitioner257B. SCO259II.History and Background of SCO's Products259A. Aldactone and Aldactazide259B. Banthine and Pro-Banthine261C. Flagyl262D. Lomotil264E. Ovulen and Demulen265F. Serenace267III.Pharmaceutical Business of Petitioner and Its Subsidiaries268IV.Historical Development of the Puerto Rican Operationsof Petitioner and SCO269A. Tax…
Read the full summary
CONTENTSPageHeadnote255Introduction and Statement of Issues256Findings of Fact257I.History and Background of G.D. Searle & Co.257A. Petitioner257B. SCO259II.History and Background of SCO's Products259A. Aldactone and Aldactazide259B. Banthine and Pro-Banthine261C. Flagyl262D. Lomotil264E. Ovulen and Demulen265F. Serenace267III.Pharmaceutical Business of Petitioner and Its Subsidiaries268IV.Historical Development of the Puerto Rican Operationsof Petitioner and SCO269A. Tax Incentives for Puerto Rican Operations269B. Planning and Formation of SCO270C. SCO's Puerto Rican Tax Exemption…
1Opinion of the Court
WILES, Judge:
Respondent determined deficiencies in petitioners’ consolidated corporate Federal income tax as follows:
Year Deficiency
1974 . $29,157,111
1975 . 28,678,504
By amendment to his answer, respondent conceded that the amount of the alleged deficiency for the year 1974 should be reduced to $19,413,557. On May 6, 1982, this Court severed from the case all issues other than the propriety of respondent’s allocations under section 4821 of gross income and related business expense deductions from Searle & Co. (hereinafter SCO) to petitioner G.D. Searle & Co. (hereinafter petitioner).2 In the…
2Cases cited38 opinions
- Gregory v. HelveringSupreme Court of the United States · 1935
- Achiro v. CommissionerUnited States Tax Court · 1981
- Nat Harrison Assoc., Inc. v. CommissionerUnited States Tax Court · 1964
- Foster v. Comm'rUnited States Tax Court · 1983
- Grenada Industries, Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1953
33 more not listed; retrieve them via the Exa API.
3Cited by29 opinions
- Elec. Arts, Inc. v. Comm'rUnited States Tax Court · 2002
- Sundstrand Corp. v. CommissionerUnited States Tax Court · 1991
- Eli Lilly & Company and Subsidiaries, Cross-Appellees v. Commissioner of Internal Revenue, Cross-AppellantCourt of Appeals for the Seventh Circuit · 1988
- Bausch & Lomb Incorporated and Consolidated Subsidiaries v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1991
- Bausch & Lomb, Inc. v. CommissionerUnited States Tax Court · 1989
24 more not listed; retrieve them via the Exa API.