MEMORANDUM OPINION AND JUDGMENT
WARREN H. YOUNG, District Judge.
This action brings into question the proper treatment for Internal Revenue purposes of subsidies granted under Act No. 224, the 1957 forerunner to our present Industrial Incentive Program legislation. More specifically, the issue presented is whether subsidies paid under Act No. 224 are non-shareholder contributions to capital subject to the tax treatment prescribed by Section 362(c)(2) of...
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