Legal Opinion
Bennett Paper Corporation and Subsidiaries v. Commissioner of Internal Revenue
Court of Appeals for the Eighth Circuit
Decided February 16, 1983No. 82-1502PublishedCited by 49 opinions
1Opinion of the Court
FLOYD R. GIBSON, Senior Circuit Judge.
This is an appeal of a Tax Court decision relating to petitioner’s 1974 tax return. The Commissioner disallowed deductions of petitioner for business expenses of a subsidiary and accrued profit-sharing plan earnings, and ordered a capitalization of certain expenses. We affirm the judgment, 78 T.C. 458, of the Tax Court.
Bennett Paper Corporation (Bennett) is the parent corporation of several subsidiaries, one of which owned King Island, Inc. (KI). KI was incorporated in Florida in July 1973 for the purpose of operating a marina. KI bought a marina but it…
2Cases cited14 opinions
- Welch v. HelveringSupreme Court of the United States · 1933
- Higgins v. SmithSupreme Court of the United States · 1940
- Moline Properties, Inc. v. CommissionerSupreme Court of the United States · 1943
- Brown v. HelveringSupreme Court of the United States · 1934
- Commissioner v. National Alfalfa Dehydrating & Milling Co.Supreme Court of the United States · 1974
9 more not listed; retrieve them via the Exa API.
3Cited by49 opinions
- Johnsen v. CommissionerUnited States Tax Court · 1984
- John K. Johnsen Frances Johnsen, Cross-Appellants v. Commissioner of Internal Revenue, Cross-AppelleeCourt of Appeals for the Sixth Circuit · 1986
- Sealy Power, Ltd. v. CommissionerCourt of Appeals for the Fifth Circuit · 1995
- Vastola v. CommissionerUnited States Tax Court · 1985
- Hoopengarner v. CommissionerUnited States Tax Court · 1983
44 more not listed; retrieve them via the Exa API.