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E.I. du PONT de NEMOURS & CO. v. C.I.R.

Nos. 94-7242, 94-7243 and 94-7244.

41 F.3d 130 (1994)

E.I. du PONT de NEMOURS & COMPANY, and Affiliated Corporations, Appellant, Remington Arms Company, Inc., Appellant, E.I. du Pont de Nemours & Company, Successor to New England Nuclear Corporation, Appellant, v. COMMISSIONER OF INTERNAL REVENUE SERVICE.

United States Court of Appeals, Third Circuit.

Decided December 2, 1994.

Attorney(s) appearing for the Case

John L. Snyder (argued), Michael R. Schlessinger, Bradford L. Ferguson, Marilyn D. Franson, Hopkins & Sutter, Chicago, IL, for appellants.

Thomas J. Clark (argued), Gary R. Allen, Gilbert S. Rothenberg, U.S. Dept. of Justice, Tax Div., Washington, DC, for appellee.

Before: SCIRICA, NYGAARD and McKEE, Circuit Judges.

OPINION OF THE COURT

SCIRICA, Circuit Judge.

In this appeal, we must determine the validity of Treas.Reg. § 1.58-9 (1992). Specifically, the issue is whether the Department of the Treasury may implement a "suspended-tax" approach instead of a "suspended-preference" method in calculating minimum tax under the "tax benefit rule" of former I.R.C. § 58(h), 26 U.S.C. The first approach computes and suspends tax liability until a benefit results while...

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