Doric Co. v. Commissioner
United States Tax Court
For its fiscal year ended October 31, 1957, and prior fiscal years, K corporation filed its returns on an accrual basis and consistently followed the practice of accruing on its books its property taxes for the current year on a monthly basis.
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For its fiscal year ended October 31, 1957, and prior fiscal years, K corporation filed its returns on an accrual basis and consistently followed the practice of accruing on its books its property taxes for the current year on a monthly basis. K corporation became a member of an affiliated group of corporations on February 1, 1958. It filed a return for the period November 1, 1957, to January 31, 1958, and claimed as a deduction the entire amount of property taxes levied by the State of Washington for the calendar year 1958. Held, it was entitled to deduct only that portion of its property…
1Opinion of the Court
OPINION
Raum, Judge:
Respondent determined the following deficiencies in income taxes against the Doric Co., as transferee of the assets of Kellerblock Corp. (dissolved):
Year Amount
Fiscal year ended Oct. 31, 1955_$4, 062. 96
Fiscal year ended Oct. 31, 1956_ 5,238.73
Fiscal year ended Oct. 31, 1957_ 9, 300.21
Period Nov. 1,1957, to Jan. 31,1958_ 19, 779.33
The only issue remaining for determination is whether the Keller-block Corp. was entitled to deduct in computing its taxable income for the period November 1, 1957, to January 31, 1958, all of its property taxes for the calendar year 1958 or…
2Cases cited14 opinions
- United States v. AndersonSupreme Court of the United States · 1926
- Knetsch v. United StatesSupreme Court of the United States · 1960
- Dixie Pine Products Co. v. CommissionerSupreme Court of the United States · 1944
- Magruder v. SuppleeSupreme Court of the United States · 1942
- Atlantic C. L. R. Co. v. CommissionerUnited States Tax Court · 1944
9 more not listed; retrieve them via the Exa API.
3Cited by1 opinion
- Doric Co. v. CommissionerUnited States Tax Court · 1963