Whiteco Indus. v. Comm'r
United States Tax Court
Held, outdoor advertising signs constitute "tangible personal property" within the meaning of sec. 48(a)(1)(A), I.R.C. 1954, and therefore, may qualify for the investment credit provided in sec. 38, I.R.C. 1954.
1Opinion of the Court
OPINION
We must decide whether the petitioner’s outdoor advertising signs may qualify for the investment credit of section 38.
Property can qualify for the investment credit only if it constitutes “section 38 property.” Such term is defined in section 48(a)(l), which provides in relevant part:(a) Section 38 Property.—(1) In GENERAL. — * * * the term “section 38 property” means—
(A) tangible personal property, or
(B) other tangible property (not including a building and its structural components) but only if such property—(i) is used as an integral part of manufacturing, production, or extraction…
2Cases cited11 opinions
- Commissioner v. WilcoxSupreme Court of the United States · 1946
- Minot Federal Savings & Loan Assn. v. United StatesCourt of Appeals for the Eighth Circuit · 1970
- Commissioner of Internal Revenue v. Thompson Et UxCourt of Appeals for the Tenth Circuit · 1951
- Moore v. CommissionerUnited States Tax Court · 1972
- La Croix v. CommissionerUnited States Tax Court · 1974
6 more not listed; retrieve them via the Exa API.
3Cited by48 opinions
- Piggly Wiggly Southern, Inc. v. CommissionerUnited States Tax Court · 1985
- Standard Oil Co. v. CommissionerUnited States Tax Court · 1981
- Kimmelman v. CommissionerUnited States Tax Court · 1979
- Scott Paper Co. v. CommissionerUnited States Tax Court · 1980
- Illinois Cereal Mills, Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1986
43 more not listed; retrieve them via the Exa API.