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OPINION
RUWE, Judge: This matter is before the Court on
respondent’s motion for partial summary judgment filed pursuant
to Rule 121.1 The sole issue presented is whether petitioner is
barred by the so-called “one claim” rule of section 6427(i)(1)
from obtaining a credit under section 34 for amounts of Federal
excise taxes paid on fuels.
Background
FPL Group, Inc., is a corporation organized and existing
under the laws of the State of Florida with its principal office
located in Juno Beach, Florida. FPL Group, Inc. and Subsidiaries
(petitioner) filed consolidated Federal income tax returns for
the years 1988 through 1992. Petitioner attached to each return
a Form 4136, Computation of Credit for Federal Tax on Fuels.
Form 4136 is used to claim credit for Federal excise tax paid on
fuels sold or used during the period of the claim. On its
Federal income tax returns for those years, petitioner claimed
credits for Federal taxes on fuels as follows:
Year Credit
1988 $279,732
1989 233,053
1990 275,303
1991 391,516
1992 332,568
1Unless otherwise indicated, all section references are to
the Internal Revenue Code in effect for the years in issue, and
all Rule references are to the Tax Court Rules of Practice and
Procedure.
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Last modified: May 25, 2011