Reo Motors, Inc. v. Commissioner’s Empirical Analysis

Citation profile

31 federal appellate · 3 district · 2 state decisions

Most-quoted passages

The sentences later courts lift from this opinion, ranked by how many decisions quote each — the parts of the opinion doing the work. These counts are smaller than the citation total above because most of the 69 citing decisions cite the case generally; a passage count includes only decisions quoting that exact language verbatim.

1. “Sec. 122 [As added by Sec. 211(b), Revenue Act of 1939, c. 247, 53 Stat. 863 , 867 and as amended by Sec. 105(e) and Sec. 153(b), Revenue Act of 1942, c. 619, 56 Stat. 798 , and See. 121(g) and Sec. 215 (a), Revenue Act of 1950, c. 994, 64 Stat. 918 , 937, NET OPERATING LOSS DEDUCTION. “(a) Definition of net operating loss. As used in this section, the term ‘net operating loss’ means tlie excess of the deductions allowed by tHis chapter over the gross income, with the exceptions, additions, and limitations provided in subsection (d). “(b) Amount of carry-back and carryover. “(2) Net operating loss carry-over. * * :i¡ * s¡: * sfe H? “(B) Loss for taxable year beginning after 1949. If for any taxable year beginning after December 31, 1949, the taxpayer has a net operating loss, such net operating loss shall be a net operating loss carry-over for each of the five succeeding taxable years, except that the carry-over in the case of each such succeeding taxable year (other than the first succeeding taxable year) shall be the excess, if any, of the amount of such net operating loss over the sum of the net income for each of the intervening years computed— “(i) with the exceptions, additions, and limitations provided in subsection (d) (1), (2), (4), and (6), and “(ii) by determining the net operating loss deduction for each intervening taxable year, without regard to such net operating loss or to the net operating loss for any succeeding taxable year and without regard to any reducti”

   1 later decision quote this exact passage · from the majority
   e.g. Pacific Rock & Gravel Co. v. United States

2. “We also agree with the court below that the words of § 101 of the Revenue Act of 1942, which states that the amendments enacted therein `shall be applicable only with respect to taxable years beginning after December 31, 1941', cannot be read to mean `shall be applicable only in computing tax liability for taxable years beginning after Dec. 31, 1941.' To apply § 23(g) (4) to establish a net operating loss is clearly to apply the 1942 amendment `with respect to' 1941, contrary to the statute.”

   1 later decision quote this exact passage · from the majority
   e.g. Commissioner v. Community Public Service Co.

3. ““The amount of that deduction is determined in three separate steps. First, the net operating loss is determined (under Sect. 122a) * * *. Second, net operating loss having been determined, the -amount and extent to which it may be utilized as a carry-over is set out in § 122 (b) (2), and as a carry-back in § 1-22 (b) (1). Finally, the amount which may actually be deducted -from gross income under § 23 (s) is computed under the terms § 122 (c).””

   1 later decision quote this exact passage · from the majority
   e.g. National Fruit Product Co. v. United States