Madison Newspapers, Inc. v. Commissioner
United States Tax Court
Excess Profits Tax Act of 1950, Sec. 459 (c) -- Consolidation of Newspaper Operations. -- Petitioner was organized in 1948 upon a consolidation of two corporations publishing newspapers in the same city but in different buildings. Petitioner continued the publication of the two newspapers.
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Excess Profits Tax Act of 1950, Sec. 459 (c) -- Consolidation of Newspaper Operations. -- Petitioner was organized in 1948 upon a consolidation of two corporations publishing newspapers in the same city but in different buildings. Petitioner continued the publication of the two newspapers. In 1949 the mechanical, circulation, advertising, and accounting operations of the two newspapers were physically consolidated in one building, although the editorial departments remained separate. Held, the petitioner did not consolidate its mechanical, circulation, advertising, and accounting operations…
1Opinion of the Court
Tietjens, Judge:
The respondent determined a deficiency of $2,-142.41 in income tax for the fiscal year ended September 30, 1950. The petitioner claims an overpayment of $3,280.65. Certain of the respondent’s adjustments are not contested. The issues for decision relate to the application of section 459 (c) of the Internal Revenue Code of 1939. They are (1) whether the petitioner is entitled to compute its average base period net income under the provisions of section 459 (c), and (2) if so, is its computation of average base period net income correct %
The returns of the petitioner and its…
2Cited by3 opinions
- Davey Co. v. CommissionerUnited States Tax Court · 1959
- Davey Co. v. CommissionerUnited States Tax Court · 1959
- Madison Newspapers, Inc. v. CommissionerUnited States Tax Court · 1956