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OKLAHOMA GAS AND ELECTRIC COMPANY v. UNITED STATES

No. 71-1742.

464 F.2d 1188 (1972)

OKLAHOMA GAS AND ELECTRIC COMPANY, Appellee, v. UNITED STATES of America, Appellant.

United States Court of Appeals, Tenth Circuit.

August 18, 1972.

Attorney(s) appearing for the Case

Richard Farber, Atty., Tax Div., Dept. of Justice (Scott P. Crampton, Asst. Atty. Gen., Meyer Rothwacks and Bennet N. Hollander, Attys., Tax Div., Dept. of Justice, and William R. Burkett, U. S. Atty., of counsel, with him on the brief), for appellant.

Richard G. Taft, Oklahoma City, Okl. (Gordon F. Rainey, of Rainey, Welch, Wallace, Ross & Cooper, Gary F. Fuller and Dee A. Replogle, Jr., of McAtee, Taft, Cates, Mark, Bond & Rucks, Oklahoma City, Okl., and H. Duane Stratton, Oklahoma City, Okl., of counsel, with him on the brief), for appellee.

Before LEWIS, Chief Judge, and SETH and McWILLIAMS, Circuit Judges.

SETH, Circuit Judge.

Oklahoma Gas & Electric Company (taxpayer) brought this action for mitigation under 26 U.S.C. §§ 1311-1315 to treat as fully deductible business expenses expenditures for sales and use taxes which were capitalized rather than deducted.

Taxpayer was required by the Federal Power Commission System of Accounts to capitalize sales and use taxes paid on materials used in its construction projects. Not only did taxpayer so capitalize...

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