CHARLES SCHWAB CORP. v. C.I.R.

Nos. 05-72899, 05-72902.

495 F.3d 1115 (2007)

The CHARLES SCHWAB CORPORATION and Includable Subsidiaries, Petitioner-Appellant, v. COMMISSIONER OF INTERNAL REVENUE, Respondent-Appellee. The Charles Schwab Corporation and Includable Subsidiaries, Petitioner-Appellant, v. Commissioner of Internal Opinion Revenue, Respondent-Appellee.

United States Court of Appeals, Ninth Circuit.

Filed August 2, 2007.


Attorney(s) appearing for the Case

Glenn A. Smith, Palo Alto, CA, for the petitioner-appellant.

Bridget M. Rowan, Department of Justice, Washington, D.C., for the respondent-appellee.

Before: MARY M. SCHROEDER, Chief Circuit Judge, STEPHEN S. TROTT and W. FLETCHER, Circuit Judges.


PER CURIAM:

This dispute concerns when the taxpayer may deduct on its federal return payment of its California state franchise tax. The appellant taxpayer is the Charles Schwab Corporation and its subsidiaries, Schwab Holdings, Inc. and Charles Schwab & Co., Inc. (referred to collectively as "Schwab"). Schwab's California income has grown greatly since it began doing business in the state in April 1987. It would like to deduct its franchise tax payments earlier...

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