Lanman & Kemp-Barclay & Co. of Colombia v. Commissioner
United States Tax Court
The Republic of Colombia imposed a tax in 1947 upon a United States corporation doing business in that country, which tax was deemed under Colombian law to be single and indivisible although composed of a tax based upon the corporation's income and the deductions allowable therefrom and a tax upon patrimony which was based upon the corporation's assets and liabilities.
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The Republic of Colombia imposed a tax in 1947 upon a United States corporation doing business in that country, which tax was deemed under Colombian law to be single and indivisible although composed of a tax based upon the corporation's income and the deductions allowable therefrom and a tax upon patrimony which was based upon the corporation's assets and liabilities. Held, under the criteria of the internal revenue laws of the United States, which are controlling on the classification of the foreign levy, the patrimony tax was neither an income tax nor a tax in lieu of a tax on income…
1Opinion of the Court
OPINION.
KeRN, Judge:
The sole issue for decision is whether the Colombian patrimony tax of $3,257.67 (and the 35 per cent surcharge thereon of $1,120.22), accrued by the petitioner in 1947, is an income tax or a tax in lieu of a tax on income within the meaning of section 1312 of the Internal Revenue Code of 1939 so as to qualify these amounts as foreign tax credits.
The petitioner bases its principal argument for the allowance of the credit on the contention that under the laws of the Republic of Colombia, the tax paid to that country was “a single tax, not divisible into separate parts,” that…
2Cases cited8 opinions
- Commissioner v. Glenshaw Glass Co.Supreme Court of the United States · 1955
- United States v. Kirby Lumber CoSupreme Court of the United States · 1931
- Biddle v. CommissionerSupreme Court of the United States · 1938
- Helvering v. CampbellCourt of Appeals for the Fourth Circuit · 1944
- Keasbey & Mattison Co. v. RothensiesCourt of Appeals for the Third Circuit · 1943
3 more not listed; retrieve them via the Exa API.
3Cited by14 opinions
- F. W. Woolworth Co. v. CommissionerUnited States Tax Court · 1970
- Missouri Pacific Railroad Company v. The United StatesUnited States Court of Claims · 1968
- Gleason Works v. CommissionerUnited States Tax Court · 1972
- Abbot Laboratories International Co. v. United StatesDistrict Court, N.D. Illinois · 1958
- Allstate Insurance Company v. The United StatesUnited States Court of Claims · 1969
9 more not listed; retrieve them via the Exa API.