Supreme Court rules two-pronged test applicable when amortizing intangible assets.: An article from: The Tax Adviser

This digital document is an article from The Tax Adviser, published by American Institute of CPA's on July 1, 1993. The length of the article is 588 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

From the supplier: The Supreme Court has ruled that assets which appear to reflect the expectancy of continued patronage may be depreciated if they can be valued and shown to have a limited useful life. In light of this decision, taxpayers will not be given automatic depreciation deductions for customer-based intangibles. The burden of proof is on the taxpayers, so they may want to have appraisals conducted by a firm with reliable statisticians when calculating useful life claims.

Citation Details
Title: Supreme Court rules two-pronged test applicable when amortizing intangible assets.
Author: Roger J. Grabowski
Publication:The Tax Adviser (Magazine/Journal)
Date: July 1, 1993
Publisher: American Institute of CPA's
Volume: 24 Issue: n7 Page: 438(3)

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