Smith Agricultural Chemical Co. v. Commissioner
This text of 11 B.T.A. 902 (Smith Agricultural Chemical 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
OFINION.
The question here involved is governed by previous decisions of the Board and upon authority of those decisions it is held that the invested capital of the petitioner should not be reduced in determining the extent to which a dividend is paid from current earnings of the year by a “ tentative tax ” theoretically set aside out of earnings pro rata over the year. L. S. Ayers & Co., 1 B. T. A. 1135; Georgia Car & Locomotive Co., 2 B. T. A. 986; Rhode Island Tool Co., 3 B. T. A. 180; Washington Hotel Co., 4 B. T. A. 441 Gardner Governor Co., 5 B. T. A. 70; Levine Brothers Co., Inc., 5 [903]*903B. T. A. 689; A. M. Robinson Co., 5 B. T. A. 1217; All America Cables, Inc., 10 B. T. A. 213.
Ordered that judgment pursuant to the find-mgs of fact and opinion be rendered under Rule 50.
Free access — add to your briefcase to read the full text and ask questions with AI
Cite This Page — Counsel Stack
11 B.T.A. 902, Counsel Stack Legal Research, https://law.counselstack.com/opinion/smith-agricultural-chemical-co-v-commissioner-bta-1928.