§173 — Circulation expenditures
15 cases·1 distinguished·1 questioned·13 cited
Statute Text — 26 U.S.C. §173
Notwithstanding section 263, all expenditures (other than expenditures for the purchase of land or depreciable property or for the acquisition of circulation through the purchase of any part of the business of another publisher of a newspaper, magazine, or other periodical) to establish, maintain, or increase the circulation of a newspaper, magazine, or other periodical shall be allowed as a deduction; except that the deduction shall not be allowed with respect to the portion of such expenditures as, under regulations prescribed by the Secretary, is chargeable to capital account if the taxpayer elects, in accordance with such regulations, to treat such portion as so chargeable. Such election, if made, must be for the total amount of such portion of the expenditures which is so chargeable to capital account, and shall be binding for all subsequent taxable years unless, upon application by the taxpayer, the Secretary permits a revocation of such election subject to such conditions as he deems necessary.
For election of 3-year amortization of expenditures allowable as a deduction under subsection (a), see section 59(e).
Treasury Regulations
- Treas. Reg. §Treas. Reg. §1.173-1 Circulation expenditures
- Treas. Reg. §Treas. Reg. §1.173-1(a) Allowance of deduction.
- Treas. Reg. §Treas. Reg. §1.173-1(b) Deferred expenditures.
- Treas. Reg. §Treas. Reg. §1.173-1(c) Election to capitalize.
15 Citing Cases
173..315(m) (2009) (défining nurse tank). Federal regulations require an identification plate to be attached to each nurse tank in operation. Id. sec. 173.315 (m) (1). Not infrequently, an identification plate falls off a nurse tank. In 2004, the Department'of Transportation created; an alternative regulatory scheme "that, allowed nurse tanks