GlaxoSmithKline Holdings (Americas) Inc. - Page 2




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               John B. Magee and Richard C. Stark, for petitioner.                    
               Theodore J. Kletnick, for respondent.                                  


                                       OPINION                                        
               WELLS, Chief Judge:  This matter is before the Court on a              
          Joint Application to Perpetuate Testimony Before Commencement of            
          a Case (joint application), filed May 7, 2001.  Unless otherwise            
          indicated, section references are to sections of the Internal               
          Revenue Code, as amended, and Rule references are to the Tax                
          Court Rules of Practice and Procedure.                                      
               GlaxoSmithKline Holdings (Americas), Inc. (Glaxo), and the             
          Commissioner of Internal Revenue (the Commissioner) filed a joint           
          application, pursuant to Rule 82, to take the depositions of two            
          of Glaxo’s former executives.  For convenience, we will refer to            
          Glaxo and the Commissioner, collectively, as the applicants.                
          Glaxo has no current petition for redetermination of deficiencies           
          before the Court.                                                           
                                     Background                                       
               Glaxo is a holding company for a global pharmaceutical                 
          business headquartered in the United Kingdom.  In 1992, the                 
          Commissioner began an examination of Glaxo’s tax returns for 1989           
          and 1990.  The Glaxo examination currently encompasses Glaxo’s              
          tax returns for the years 1989 through 1999.                                








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