Beaver Bolt v. Commissioner

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November 20, 1995

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5072 Hardware
444130 Hardware Stores
federal taxation
Beaver Bolt v. Commissioner
T.C. Memo 1995-549
US
Federal Court
United States Tax Court
William E. Holmer (for respondent) Gregory A. Gilbert (for petitioner)
Colvin

Summary

At issue is whether petitioner may amortize $ 383,400, or some other amount, for the ex-vice president of Beaver Bolt's covenant not to compete.

See Also

Tax Court Cites Factors in Noncompete Valuation

Legal and Court Case Update
January 1996

The IRS disallowed a depreciation deduction for a covenant not to compete, saying it had no value.