Mortigan Monument Co. v. Commissioner
This text of 12 B.T.A. 831 (Mortigan Monument Co. v. Commissioner) is published on Counsel Stack Legal Research, covering United States Board of Tax Appeals primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Opinion
[832]*832OPINION.
Because the petitioner had no income in the first six months of its incorporation against which to deduct organization expenses and advance commissions it seeks to deduct those amounts in the next year. Ordinarily such a situation is provided for by the net loss provisions but in this proceeding that is not possible, not only because the petitioner did not show a net loss on its return for the period July 15, to December 31, 1919, but also because the Revenue Act of 1918 recognized the application of a net loss to a later year only after it had been applied against the prior year. See Butler's Warehouses, Inc., 1 B. T. A. 851; Lynn Ideal Shoe Co., 1 B. T. A. 998; Crowell & Little Construction Co., 3 B. T. A. 829; Dunker & Perkins Co., 3 B. T. A. 1156.
Judgment will he entered for the respondent.
Free access — add to your briefcase to read the full text and ask questions with AI
Related
Cite This Page — Counsel Stack
12 B.T.A. 831, 1928 BTA LEXIS 3454, Counsel Stack Legal Research, https://law.counselstack.com/opinion/mortigan-monument-co-v-commissioner-bta-1928.