Legal Opinion
ABC Rentals of San Antonio, Inc. v. Commissioner
Court of Appeals for the Tenth Circuit
Decided April 14, 1998No. Nos. 95-9008 to 95-9010PublishedCited by 6 opinions
1Opinion of the Court
BRISCOE, Circuit Judge.
In these consolidated appeals, we decide whether the rent-to-own industry may properly depreciate its inventory for tax purposes using the income forecast method rather than the Modified Accelerated Cost Recovery System (MACRS) under I.R.C. § 168(f)(1). The Tax Court held that appellants’ rent-to-own inventory could not be properly depreciated under the income forecast method, and thus upheld the Commissioner’s notice of deficiency.
Based on our analysis of the statutory language and legislative history, we conclude that § 168(f)(1) does not preclude use of the income…
2Cases cited28 opinions
- Chevron U. S. A. Inc. v. Natural Resources Defense Council, Inc.Supreme Court of the United States · 1984
- United States v. Ron Pair Enterprises, Inc.Supreme Court of the United States · 1989
- Rowland v. California Men's Colony, Unit II Men's Advisory CouncilSupreme Court of the United States · 1993
- Central Bank of Denver, N. A. v. First Interstate Bank of Denver, N. A.Supreme Court of the United States · 1994
- Commissioner v. Glenshaw Glass Co.Supreme Court of the United States · 1955
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3Cited by6 opinions
- Fulghum v. Embarq CorporationCourt of Appeals for the Tenth Circuit · 2015
- Keith v. RizzutoCourt of Appeals for the Tenth Circuit · 2000
- American Stores Co. v. CommissionerCourt of Appeals for the Tenth Circuit · 1999
- Abc Rentals Of San Antonio, Inc. v. Commissioner Of Internal RevenueCourt of Appeals for the Tenth Circuit · 1998
- Fulghum v. Embarq CorporationCourt of Appeals for the Tenth Circuit · 2015
1 more not listed; retrieve them via the Exa API.