Long Beach Improv. Co. v. Commissioner
United States Board of Tax Appeals
A corporation is subject to tax upon its net income for 1920 although such income is not sufficient to wipe out a pre-existing deficit.
1Opinion of the Court
LONG BEACH IMPROVEMENT CO., PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Long Beach Improv. Co. v. Commissioner
Docket No. 3184.
United States Board of Tax Appeals
5 B.T.A. 590; 1926 BTA LEXIS 2830;
November 23, 1926, Decided
A corporation is subject to tax upon its net income for 1920 although such income is not sufficient to wipe out a pre-existing deficit.
B. C. Bub for the petitioner.
D. D. Shepard, Esq., for the respondent.
MORRIS
This is a proceeding for the redetermination of a deficiency of $1,524.76 in income tax for the calendar year 1920. The question presented is whether a…
2Cases cited1 opinion
- Long Beach Improv. Co. v. CommissionerUnited States Board of Tax Appeals · 1926