Witter v. Tax Commission

The stockholders in the Consolidated Water Power & Paper Company, a Wisconsin corporation, reported their individual 1925 incomes and a tentative assessment was made by the proper authorities allowing' a deduction of one hundred per cent, on such dividends received by the stockholders. The precaution of making this a tentative assessment was suggested by the Tax Commission to the assessor of incomes because the commission was then making a field audit of the books and records of the Consolidated Water Power & Paper Company, including an analysis.of the surplus account for the purpose of…