The Petroleum Industry, Vol. 2

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Excerpt from The Petroleum Industry, Vol. 2: Hearings Before the Subcommittee on Antitrust and Monopoly of the Committee on the Judiciary, United States Senate, Ninety-Fourth Congress, First Session on S. 2387 and Related Bills-S. 739, S. 745, S. 756, S. 1137. And S. 1138, Appendix to HearingsThe material reprinted here consists principally of a collection of documents from the public records of state tax cases in South Carolina and Wisconsin involving the Exxon Corporation. Both cases concern generally the method used by these states for calculating the taxable income of large corporations having different divisions and subsidiaries and doing business in several states. The central issue in the litigation is whether the different divisions and subsidiaries should be taxed separately under segregated accounting or should the income of the entire enterprise be taken together and apportioned out among the individual states according to a standard formula.About the PublisherForgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.comThis book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully, any imperfections that remain are intentionally left to preserve the state of such historical works.