DRENNEN, Judge:
Respondent determined a deficiency in petitioner's income tax for the taxable year 1955 in the amount of $16,521.54. There are two issues for decision: (1) Whether the loss incurred by petitioner in 1955 on the sale of debentures held by it is an ordinary business loss or a long-term capital loss, and (2) whether respondent erred in disallowing as a deduction for 1955 that part of the Vermont corporation franchise tax accrued by petitioner for...
Let's get started
Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.
- Updated daily.
- Uncompromising quality.
- Complete, Accurate, Current.