PDV America, Inc. and Subsidiaries - Page 23

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          The tanks are massive in size and have economic useful lives of             
          60 to 70 years, and (2) AFEs for building new tanks at terminals            
          do not reflect an intent to relocate the new tanks at some later            
          date.  In addition, respondent argues that the need for internal            
          bracing when relocating intact tanks with internal roof support             
          columns demonstrates that the tanks were designed to remain                 
          permanently in place.                                                       
               In Whiteco Indus., Inc. v. Commissioner, supra at 672, we              
          concluded that the outdoor advertising signs were “not designed             
          or constructed to last permanently.”  The signs were designed to            
          last only for the duration of the advertising contract, about 5             
          years, at which time the signs would require “substantial                   
          renovation”, including a new sign face and various repairs.  Id.            
          We did not require the taxpayer to show that the taxpayer                   
          actually intended to relocate the property at a later date.  Id.;           
          see also JFM, Inc. & Subs. v. Commissioner, T.C. Memo. 1994-239             
               Although the property at issue in the present case is quite            
          large, for this second Whiteco factor, the focus of our inquiry             
          is on the permanence of the property’s design and construction.             
          The property’s size is not determinative.  See, e.g., Estate of             
          Morgan v. Commissioner, supra at 480 (floating docks at issue had           
          one walkway that was approximately 290 feet long).                          

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