DRENNEN, Judge:
Respondent determined a deficiency in petitioner's income tax for the taxable year 1955 in the amount of $16,521.54. There are two issues for decision: (1) Whether the loss incurred by petitioner in 1955 on the sale of debentures held by it is an ordinary business loss or a long-term capital loss, and (2) whether respondent erred in disallowing as a deduction for 1955 that part of the Vermont corporation franchise tax accrued by petitioner for...
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