Legal Opinion
Exxon Corporation v. Commissioner
United States Tax Court
Decided November 2, 1999No. 23331-95, 16692-97Unknown
1Opinion of the Court
113 T.C. No. 24
UNITED STATES TAX COURT EXXON CORPORATION AND AFFILIATED COMPANIES, Petitioners v. COMMISSIONER OF INTERNAL REVENUE, Respondent Docket Nos. 23331-95, 16692-97. Filed November 2, 1999. Held: Petroleum revenue tax paid by petitioners to the United Kingdom was not paid in exchange for specific economic benefits and constitutes a creditable foreign tax under sec. 901, I.R.C. Robert L. Moore II, Jay L. Carlson, Bradford J. Anwyll, Kevin Lee Kenworthy, Patrick James Thornton, Richard Steven Klimczak, Susan Ann Friedman, and David B. Blair, for petitioners. Allan E. Lang, Raymond L.…
2Cases cited6 opinions
- Texasgulf, Inc., and Subsidiaries, as Successor in Interest to Texasgulf, Inc. And Subsidiaries v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1999
- Phillips Petroleum Co. v. CommissionerUnited States Tax Court · 1995
- Inland Steel Co. v. United StatesUnited States Court of Claims · 1982
- Bank of Am. Trust & Sav. Ass'n v. CommissionerUnited States Tax Court · 1974
- Exxon Corp. v. CommissionerUnited States Tax Court · 1999
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