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MILWAUKEE GAS LIGHT CO. v. DEPT. OF TAXATION

23 Wis.2d 195 (1964)

MILWAUKEE GAS LIGHT COMPANY, Appellant, v. DEPARTMENT OF TAXATION, Respondent.

Supreme Court of Wisconsin.

March 31, 1964.

Attorney(s) appearing for the Case

For the appellant there were briefs by Foley, Sammond & Lardner and Theodore C. Bolliger, all of Milwaukee, and oral argument by Mr. Bolliger.

For the respondent the cause was argued by Harold H. Persons, assistant attorney general, with whom on the brief was George Thompson, attorney general.

CURRIE, C. J.

The issue raised by this appeal is whether a public utility taxpayer is permitted to deduct from gross income, for purposes of computing its net income subject to Wisconsin income tax, the additional amounts which it was ordered to charge to depreciation and to credit to its reserve for depreciation under the PSC order of August 30, 1956. This issue is one of first impression in Wisconsin. It arises solely because of the complete statutory scheme of...

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