General Motors Corporation and Subsidiaries - Page 1















                                   112 T.C. No. 19                                     


                               UNITED STATES TAX COURT                                 

              GENERAL MOTORS CORPORATION AND SUBSIDIARIES, Petitioner                  
                   v. COMMISSIONER OF INTERNAL REVENUE, Respondent                     


               Docket No. 27026-96.                     Filed May 25, 1999.            


                    GM and GMAC are members of a consolidated group.                   
               GM manufactured motor vehicles.  GMAC financed motor                    
               vehicles.                                                               
                    Held:  The consolidated return regulations in                      
               issue constituted a method of reporting and not a                       
               method of accounting.  Henry C. Beck Co. v.                             
               Commissioner, 52 T.C. 1 (1969), affd. per curiam 433                    
               F.2d 309 (5th Cir. 1970), and Henry C. Beck Builders,                   
               Inc. v. Commissioner, 41 T.C. 616 (1964), followed.                     
                    Held, further,  GM's rate support deductions are                   
               not subject to deferral pursuant to sec. 1.1502-                        
               13(b)(2), Income Tax Regs.                                              


               Raymond P. Wexler, Todd F. Maynes, and William R. Welke, for            
          petitioner.                                                                  
               Nancy B. Herbert and John A. Guarnieri, for respondent.                 





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