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L.L. BEAN, INC. v. C.I.R.

Nos. 97-2104, 97-2105.

145 F.3d 53 (1998)

L.L. BEAN, INC., et al., Petitioners, Appellants, v. COMMISSIONER OF INTERNAL REVENUE, Respondent, Appellee.

United States Court of Appeals, First Circuit.

Decided May 28, 1998.

Attorney(s) appearing for the Case

Martin I. Eisenstein with whom Brann & Isaacson was on consolidated brief, for petitioners.

Bridget M. Rowan, Tax Division, Department of Justice, with whom Loretta C. Argrett, Assistant Attorney General, and Ann B. Durney, Tax Division, Department of Justice, were on consolidated brief for respondent.

Before BOUDIN, Circuit Judge, COFFIN and CYR, Senior Circuit Judges.

BOUDIN, Circuit Judge.

L.L. Bean, Inc. appeals from an adverse decision of the Tax Court. Although the decision covers two different tax years (1986 and 1987), the central issue in both years is the status of certain facilities under 26 U.S.C. §§ 38, 48, which govern the investment tax credit. These provisions provided certain tax advantages in the years in question, primarily a tax credit, for qualifying facilities commonly known as "section 38 property...

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