¶2The taxpayer’s business is founded upon the exploitation of a certain secret medicinal formula, and its gross income is derived wholly from sales of preparations compounded according to such formula. This formula is an important capital element and is a material factor in producing profits.
2 B.T.A. 46
American Compounding Co. v. Commissioner
United States Board of Tax Appeals
Decided June 11, 1925
United States Board of Tax Appeals · decided 1925-06-11
Cited by 1 later decisions — most recently March 1928
Good law ✅— No negative treatment on recordhow we know
Decided 1925-06-11
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