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International Tax Blog - New and Interesting International Tax Issues


Famous Tax Quotes - Same Boat But Another Ocean

2012-02-05

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Continuing our series on Famous Tax Quotes (quotes from court opinions and rulings with language that is colorful or that concisely states an important tax principle) today's tax quote is:

If 105% of gross receipts * * * does not satisfy the requirement, then 225% is in the same boat but another ocean.

PPL Corp. and Subs. v. Commr., 665 F. 3d 60 (3rd Cir. 2011)

Tags: 901 Foreign Tax Credits, Other - Famous Tax Quotes