United States Eighth Circuit

Where a corporation's securities trades have both economic substance and a business purpose, and were valid for tax purposes, the corporate taxpayer is entitled to a tax refund. The taxpayer can deduct fifteen years of environmental cleanup assessments in the tax year that the liability was determined.

Appellate Information

• Decided 06/14/2001
• Published 06/14/2001

Judges

• BOWMAN, Circuit Judge., Before RICHARD S. ARNOLD and BOWMAN, Circuit Judges, and KYLE, District Judge.

Court

• United States Eighth Circuit

Counsel

• For Appellees:
  
• Thomas C. Borders, argued, Chicago, IL (Matthew P. Larvick and Diane Kutzko, on the brief), for appellant/cross-appellee., Richard Farber, argued, Washington, DC (Paul M. Junghans and Michelle B. O'Connor, on the brief), for appellee/cross-appellant.