ACM Partnership v. Commissioner

Full Text of Court Cases
March 5, 1997
2844 Perfumes, Cosmetics, and Other Toilet Preparations
325611 Soap and Other Detergent Manufacturing
federal taxation
income tax

ACM Partnership v. Commissioner
T.C. Memo 1997-115, 1997 Tax Ct. Memo LEXIS 118
Federal Court
United States Tax Court


Issues are whether subject transactions lacked economic substance, foreign partner should be treated as a lender, and allocation of taxable gain had substantial economic effect.

See Also

Colgate's Bid to Reduce Federal Taxes Fails

In a complex transaction aimed at reducing federal taxes, Colgate, Merrill Lynch, and ABN Ambro Bank formed a partnership, ACM.