Broadway-Madison Corp. v. Fisher

This is a proceeding to determine the amount of corporation excise tax due the State of Oregon from the plaintiff. Plaintiff in its tax return for the fiscal period ending February 28, 1937, reported that $28.43 was due. The State Tax Commission, however, made an additional assessment of $237.60, determining that real estate taxes paid by the plaintiff in the sum of $2,970 on February 27, 1937, were not deductible from its gross income.

Broadway-Madison Corporation was organized as a corporation on March 12,1936. On March 19,1936, it acquired by a deed of conveyance the real estate upon which…