consolidated return
Definitions from Case Law · United States Supreme Court
Definitions from Case Law
From 287 U.S. 544 - Burnet v. Aluminum Goods Mfg Co · 1933Most cited · 139 citing opinions
The purpose of requiring consolidated returns by affiliated corporations was, as the government contends, to impose the war profits tax, according to true net income and invested capital of what was, in practical effect, a single business enterprise, even though conducted by means of more than one corporation. Primarily, the consolidated return was to preclude reduction of the total tax payable by the business, viewed as a unit, by redistribution of income or capital among the component corporations by means of intercompany transactions.
How often courts cite the case defining “consolidated return”
Court decisions citing the opinion that defined “consolidated return” — 139 in all, by decade. Counts are citations to the defining case as a whole, not verified uses of the term. The dip in the most recent years is a data-coverage gap, not a real trend — our corpus holds fewer opinions from the latest years.