H. O. Boehme, Inc. v. Commissioner
United States Tax Court
Held, since all of the factors necessary to a determination of the amount of the credit on petitioner's franchise tax provided by applicable New York law based on its 1943 net income became known within its tax year 1944 and not prior thereto, and since it kept its books on an accrual basis, the amount of such credit was includible in its taxable income for 1944. Also held, that since all of the factors necessary to a determination of the credit or refund of New York…
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Held, since all of the factors necessary to a determination of the amount of the credit on petitioner's franchise tax provided by applicable New York law based on its 1943 net income became known within its tax year 1944 and not prior thereto, and since it kept its books on an accrual basis, the amount of such credit was includible in its taxable income for 1944. Also held, that since all of the factors necessary to a determination of the credit or refund of New York franchise tax based on its 1944 net income became known in the year 1945 and not prior thereto, the amount of such credit or…
1Opinion of the Court
H. O. Boehme, Incorporated, Petitioner, v. Commissioner of Internal Revenue, Respondent
H. O. Boehme, Inc. v. Commissioner
Docket No. 20533
United States Tax Court
15 T.C. 247; 1950 U.S. Tax Ct. LEXIS 90;
September 22, 1950, Promulgated
Decision will be entered under Rule 50.
Held, since all of the factors necessary to a determination of the amount of the credit on petitioner's franchise tax provided by applicable New York law based on its 1943 net income became known within its tax year 1944 and not prior thereto, and since it kept its books on an accrual basis, the amount of such credit was…
2Cases cited1 opinion
- H. O. Boehme, Inc. v. CommissionerUnited States Tax Court · 1950