Burnet v. Sanford & Brooks Co.
| Burnet v. Sanford & Brooks Co. |
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Argued December 5, 8, 1930
Decided January 5, 1931 |
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| Full case name |
Burnet, Commissioner of Internal Revenue, v. Sanford & Brooks Co. |
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| Citations |
282 U.S. 359 (more) 51 S. Ct. 150; 75 L. Ed. 383; 1931 U.S. LEXIS 7; 2 U.S. Tax Cas. (CCH) P636; 9 A.F.T.R. (P-H) 603; 1931-1 C.B. 363; 1931 P.H. P389 |
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| Holding |
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An annual accounting system is a practical necessity if the federal income tax is to produce revenue ascertainable and payable at regular intervals. |
| Court membership |
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| Case opinions |
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| Majority |
Stone, joined by unanimous |
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Burnet v. Sanford & Brooks Co., 282 U.S. 359 (1931), was a case heard before the United States Supreme Court dealing with accounting for purposes of federal income tax and the Sixteenth Amendment to the United States Constitution. The case held that an annual accounting system is a practical necessity if the federal income tax is to produce revenue ascertainable and payable at regular intervals.
The case was decided at a time when losses could not be carried forward to future years. Section 172 of the Internal Revenue Code now generally allows losses to be carried back 2 years and forward 20 years.
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| | Scope |
- Brushaber v. Union Pacific Railroad (1916)
- Stanton v. Baltic Mining Company (1916)
- Tyee Realty Co. v. Anderson (1916)
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| | Income | |
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| | Taxable corporate dividends |
- Lynch v. Turrish (1918)
- Southern Pacific Co. v. Lowe (1918)
- Lynch v. Hornby (1918)
- Peabody v. Eisner (1918)
- Eisner v. Macomber (1920)
- United States v. Phellis (1921)
- Rockefeller v. United States (1921)
- Merchants' Loan & Trust v. Smietanka (1921)
- Miles v. Safe Deposit Co. (1922)
- Cullinan v. Walker (1923)
- Weiss v. Stearn (1924)
- Marr v. United States (1925)
- Koshland v. Helvering (1936)
- Helvering v. Gowran (1937)
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| | Taxable corporate earnings |
- Edwards v. Cuba Railroad (1925)
- Burk-Waggoner Assoc. v. Hopkins (1925)
- Texas & Pacific Railway Co. v. United States (1932)
- Continental Tie & Lumber Co. v. United States (1932)
- Helvering v. Mitchell (1938)
- Helvering v. National Grocery (1938)
- Helvering v. Northwest Steel Mills (1940)
- Crane-Johnson Co. v. Helvering (1940)
- Commissioner v. Glenshaw Glass Co. (1955)
- General American Investors Co. v. Commissioner (1955)
- Commissioner v. Gillette Motor Co. (1960)
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| | Taxable gains | |
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| | Unlawful income |
- United States v. Sullivan (1927)
- Rutkin v. United States (1952)
- Commissioner v. Sullivan (1958)
- James v. United States (1961)
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| | Deductions and exemptions |
- Brushaber v. Union Pacific Railroad (1915)
- Burnet v. Sanford & Brooks Co. (1931)
- McLaughlin v. Alliance Ins. Co. (1932)
- Helvering v. Independent Life Ins. Co. (1934)
- Helvering v. Winmill (1938)
- Millinery Corp. v. Commissioner (1956)
- Tank Truck Rentals v. Commissioner (1958)
- Hoover Express Co. v. United States (1958)
- Cammarano v. United States (1959)
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| | Diminution of loss | |
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