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Famous Tax Quote #11 - Exalting Form Over Substance

2009-09-04

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Today's Famous Tax Quote is from a U.S. District Court case that came out last week:

Permitting a taxpayer to control the economic destiny of a transaction with labels would . . . exalt form over substance, thereby perverting the intention of the tax code.

Schering-Plough Corp. v. U.S., 651 F. Supp. 2d 219, 272 (D.N.J. 2009)

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