Procter & Gamble Co. v. Evatt

In the consolidated returns filed for the year 1939, the taxpayer listed as Ohio taxable credits the sum of $4,745,938, with no claim for any deduction; and in the return filed for the year 1940, $6,104,690 was listed, with no claim for deduction. Taxes were paid computed on such valuations.

(In the stipulation of facts submitted to the Board of Tax Appeals it was agreed, provided the same were determined to be relevant and material, that if a foreign situs were .accorded the accounts receivable of the Procter & Gamble Distributing Company’s district offices outside Ohio, the Ohio taxable…