About: Raytheon Production Corp. v. Commissioner

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Raytheon Production Corp. v. Commissioner, 144 F.2d 110 (1st Cir. 1944), cert. denied, 323 U.S. 779 (1944) is a United States income tax case that discusses the tax deductibility of damages for loss of business good will. It included the following holdings:

Attributes	Values
rdfs:label	Raytheon Production Corp. v. Commissioner (en)
rdfs:comment	Raytheon Production Corp. v. Commissioner, 144 F.2d 110 (1st Cir. 1944), cert. denied, 323 U.S. 779 (1944) is a United States income tax case that discusses the tax deductibility of damages for loss of business good will. It included the following holdings: (en)
foaf:depiction
dct:subject	United States Court of Appeals for the First Circuit cases 1944 in United States case law United States taxation and revenue case law
Wikipage page ID	22699280 (xsd:integer)
Wikipage revision ID	1088196812 (xsd:integer)
Link from a Wikipage to another Wikipage	Calvert Magruder Peter Woodbury United States Court of Appeals for the First Circuit Internal Revenue Code Commissioner v. Glenshaw Glass Co. United States Court of Appeals for the First Circuit cases Clark v. Commissioner 1944 in United States case law Federal Reporter United States taxation and revenue case law Goodwill (accounting) Rectifier Cost basis John Christopher Mahoney Certiorari Sherman Antitrust Act Return of capital
Link from a Wikipage to an external page	http://law.justia.com/cases/federal/appellate-courts/F2/144/110/1547692/ https://law.justia.com/cases/federal/appellate-courts/F2/144/110/1547692/ https://scholar.google.com/scholar_case%3Fcase=3862794727360505479 https://www.courtlistener.com/opinion/1547692/raytheon-production-corp-v-commissioner-of-int-rev/
sameAs	Raytheon Production Corp. v. Commissioner Raytheon Production Corp. v. Commissioner Raytheon Production Corp. v. Commissioner
Subsequent	Cert. denied, (en)
dbp:wikiPageUsesTemplate	dbt:Caselaw_source dbt:Infobox_COA_case dbt:Reflist dbt:Ussc
thumbnail	wiki-commons:Special:FilePath/Seal_of_the_United_States_Court_of_Appeals_for_the_First_Circuit.svg?width=300
JoinMajority	a unanimous court (en)
LawsApplied	Internal Revenue Code
case	17280.0 (second)
citations	17280.0 (second)
court	United States Court of Appeals for the First Circuit
courtlistener	https://www.courtlistener.com/opinion/1547692/raytheon-production-corp-v-commissioner-of-int-rev/
CourtSeal	Seal of the United States Court of Appeals for the First Circuit.svg (en)
DecideDate	0001-07-28 (xsd:gMonthDay)
DecideYear	1944 (xsd:integer)
fullname	Raytheon Production Corporation v. Commissioner of Internal Revenue (en)
judges	Calvert Magruder Peter Woodbury John Christopher Mahoney
justia	http://law.justia.com/cases/federal/appellate-courts/F2/144/110/1547692/
keywords	Goodwill (accounting) Return of capital (en)
Litigants	Raytheon Production Corp. v. Commissioner (en)
majority	Mahoney (en)
other source	Google Scholar (en)
other url	https://scholar.google.com/scholar_case%3Fcase=3862794727360505479
has abstract	Raytheon Production Corp. v. Commissioner, 144 F.2d 110 (1st Cir. 1944), cert. denied, 323 U.S. 779 (1944) is a United States income tax case that discusses the tax deductibility of damages for loss of business good will. It included the following holdings: * Under the tax code, business good will is not the present value of future profits, but present capital. * Thus, damages for the destruction of goodwill (awarded under the Federal Antitrust Laws) are compensating for the destruction of a capital asset -- they are a "return" of this capital. * It is settled law that, while a recovery (as court-ordered damages) of future profits is taxable, a recovery (as damages) of present capital is not. * However, it is also settled law that compensatory damages are not tax-exempt just because they are a return of capital. Exemption applies only to the portion of these damages that recovers the cost basis of that capital; any excess damages serve to realize prior appreciation, and should be taxed as income. * In this case, the basis is treated as zero because Raytheon is unable to establish it.(Generally, goodwill has a basis of zero because the costs that generate it are themselves immediately deductible (as expenses for advertising, PR, etc). However, goodwill can acquire a basis, e.g. as a portion of the cost of purchasing another business.) (en)
prov:wasDerivedFrom	wikipedia-en:Raytheon_Production_Corp._v._Commissioner?oldid=1088196812&ns=0
page length (characters) of wiki page	7074 (xsd:nonNegativeInteger)
foaf:isPrimaryTopicOf	wikipedia-en:Raytheon_Production_Corp._v._Commissioner
is Link from a Wikipage to another Wikipage of	Commissioner v. Glenshaw Glass Co. Raytheon v. Commissioner
is Wikipage redirect of	Raytheon v. Commissioner
is foaf:primaryTopic of	wikipedia-en:Raytheon_Production_Corp._v._Commissioner

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