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Selig V. United States
''Selig v. United States'', 740 F.2d 572 (7th Cir. 1984), is a case decided by the United States Court of Appeals for the Seventh Circuit related to the amortization of intangible property. Conceptually, amortization is a mechanism that allows taxpayers to recover the cost of property over the life of an asset when they are precluded from taking an immediate and full deduction. Practically, this means that taxpayers may recover the cost in small amounts over time. There are two forms of such recovery: depreciation and amortization. ''Selig'' deals with amortization. The general rule for amortization is set forth in Section 197 of the Internal Revenue Code. The ''Selig'' case demonstrates some of the practical problems in cost allocation prior to the enactment of Section 197. Facts of case Bud Selig was part of an effort to bring a new baseball franchise to Wisconsin. As part-owner of the Milwaukee Brewers, Selig negotiated to purchase an American League team that was in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Court Of Appeals For The Seventh Circuit
The United States Court of Appeals for the Seventh Circuit (in case citations, 7th Cir.) is the U.S. federal court with appellate jurisdiction over the courts in the following districts: * Central District of Illinois * Northern District of Illinois * Southern District of Illinois * Northern District of Indiana * Southern District of Indiana * Eastern District of Wisconsin * Western District of Wisconsin The court is based at the Dirksen Federal Building in Chicago and is composed of eleven appellate judges. It is one of 13 United States courts of appeals. The court offers a relatively unique internet presence that includes wiki and RSS feeds of opinions and oral arguments. It is also notable for having one of the most prominent law and economics scholars, Judge Frank H. Easterbrook, on its court. Richard Posner, another prominent law and economics scholar, also served on this court until his retirement in 2017. Three judges from the Seventh Circuit, Sherman Minton, John Pau ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wisconsin
Wisconsin () is a state in the upper Midwestern United States. Wisconsin is the 25th-largest state by total area and the 20th-most populous. It is bordered by Minnesota to the west, Iowa to the southwest, Illinois to the south, Lake Michigan to the east, Michigan to the northeast, and Lake Superior to the north. The bulk of Wisconsin's population live in areas situated along the shores of Lake Michigan. The largest city, Milwaukee, anchors its largest metropolitan area, followed by Green Bay and Kenosha, the third- and fourth-most-populated Wisconsin cities respectively. The state capital, Madison, is currently the second-most-populated and fastest-growing city in the state. Wisconsin is divided into 72 counties and as of the 2020 census had a population of nearly 5.9 million. Wisconsin's geography is diverse, having been greatly impacted by glaciers during the Ice Age with the exception of the Driftless Area. The Northern Highland and Western Upland along wi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Taxation And Revenue Case Law
United may refer to: Places * United, Pennsylvania, an unincorporated community * United, West Virginia, an unincorporated community Arts and entertainment Films * ''United'' (2003 film), a Norwegian film * ''United'' (2011 film), a BBC Two film Literature * ''United!'' (novel), a 1973 children's novel by Michael Hardcastle Music * United (band), Japanese thrash metal band formed in 1981 Albums * ''United'' (Commodores album), 1986 * ''United'' (Dream Evil album), 2006 * ''United'' (Marvin Gaye and Tammi Terrell album), 1967 * ''United'' (Marian Gold album), 1996 * ''United'' (Phoenix album), 2000 * ''United'' (Woody Shaw album), 1981 Songs * "United" (Judas Priest song), 1980 * "United" (Prince Ital Joe and Marky Mark song), 1994 * "United" (Robbie Williams song), 2000 * "United", a song by Danish duo Nik & Jay featuring Lisa Rowe Television * ''United'' (TV series), a 1990 BBC Two documentary series * ''United!'', a soap opera that aired on BBC One from 1965-19 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Milwaukee
Milwaukee ( ), officially the City of Milwaukee, is both the most populous and most densely populated city in the U.S. state of Wisconsin and the county seat of Milwaukee County. With a population of 577,222 at the 2020 census, Milwaukee is the 31st largest city in the United States, the fifth-largest city in the Midwestern United States, and the second largest city on Lake Michigan's shore behind Chicago. It is the main cultural and economic center of the Milwaukee metropolitan area, the fourth-most densely populated metropolitan area in the Midwest. Milwaukee is considered a global city, categorized as "Gamma minus" by the Globalization and World Cities Research Network, with a regional GDP of over $102 billion in 2020. Today, Milwaukee is one of the most ethnically and culturally diverse cities in the U.S. However, it continues to be one of the most racially segregated, largely as a result of early-20th-century redlining. Its history was heavily influenced ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Seattle
Seattle ( ) is a seaport city on the West Coast of the United States. It is the seat of King County, Washington. With a 2020 population of 737,015, it is the largest city in both the state of Washington and the Pacific Northwest region of North America. The Seattle metropolitan area's population is 4.02 million, making it the 15th-largest in the United States. Its growth rate of 21.1% between 2010 and 2020 makes it one of the nation's fastest-growing large cities. Seattle is situated on an isthmus between Puget Sound (an inlet of the Pacific Ocean) and Lake Washington. It is the northernmost major city in the United States, located about south of the Canadian border. A major gateway for trade with East Asia, Seattle is the fourth-largest port in North America in terms of container handling . The Seattle area was inhabited by Native Americans for at least 4,000 years before the first permanent European settlers. Arthur A. Denny and his group of travelers, subsequ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Seattle Pilots
The Seattle Pilots were an American professional baseball, professional baseball team based in Seattle, Washington (state), Washington during the 1969 Major League Baseball season. During their single-season existence, the Pilots played their home (sports), home games at Sick's Stadium and were a member of the American League West, West Division of Major League Baseball's American League. On April 1, 1970, the franchise moved to Milwaukee, Wisconsin and became the Milwaukee Brewers. The "Pilots" name originated from team president Dewey Soriano's part-time job as a Maritime pilot, harbor pilot and the city's association with the Aerospace manufacturer, aviation industry. The team colors were royal blue and Golden yellow, gold (with accessory red in the logo: Ship's wheel, helm and baseball seams). Seattle had long been a hotbed for minor league baseball and was home to the Seattle Rainiers, a successful team in the Pacific Coast League (PCL). At the time, Seattle was the third-b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
American League
The American League of Professional Baseball Clubs, known simply as the American League (AL), is one of two leagues that make up Major League Baseball (MLB) in the United States and Canada. It developed from the Western League, a minor league based in the Great Lakes states, which eventually aspired to major league status. It is sometimes called the Junior Circuit because it claimed Major League status for the 1901 season, 25 years after the formation of the National League (the "Senior Circuit"). At the end of every season, the American League champion plays in the World Series against the National League champion; two seasons did not end in playing a World Series (1904, when the National League champion New York Giants refused to play their AL counterpart, and 1994, when a players' strike prevented the Series). Through 2021, American League teams have won 66 of the 117 World Series played since 1903, with 27 of those coming from the New York Yankees alone. The New York ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Milwaukee Brewers
The Milwaukee Brewers are an American professional baseball team based in Milwaukee. They compete in Major League Baseball (MLB) as a member club of the National League (NL) National League Central, Central division. The Brewers are named for the city's association with the brewing industry. Since 2001, they have played their home games at American Family Field, which was named Miller Park through the 2020 season and has a seating capacity of 41,900 people. The team was founded in 1969 as the Seattle Pilots, an expansion team of the American League (AL), in Seattle, Washington (state), Washington. The Pilots played their home games at Sick's Stadium. After only one season, the team relocation of professional sports teams, relocated to Milwaukee, becoming known as the Brewers and playing their home games at Milwaukee County Stadium. In 1998, the Brewers joined the National League. They are the only franchise to play in four different divisions since the advent of divisional play ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Baseball
Baseball is a bat-and-ball sport played between two teams of nine players each, taking turns batting and fielding. The game occurs over the course of several plays, with each play generally beginning when a player on the fielding team, called the pitcher, throws a ball that a player on the batting team, called the batter, tries to hit with a bat. The objective of the offensive team (batting team) is to hit the ball into the field of play, away from the other team's players, allowing its players to run the bases, having them advance counter-clockwise around four bases to score what are called " runs". The objective of the defensive team (referred to as the fielding team) is to prevent batters from becoming runners, and to prevent runners' advance around the bases. A run is scored when a runner legally advances around the bases in order and touches home plate (the place where the player started as a batter). The principal objective of the batting team is to have a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bud Selig
Allan Huber "Bud" Selig (; born July 30, 1934) is an American baseball executive who currently serves as the Commissioner Emeritus of Baseball. Previously, he served as the ninth Commissioner of Baseball from 1998 to 2015. He initially served as de facto acting commissioner beginning in 1992 in his capacity as chairman of the Major League Baseball Executive Committee before being named the official commissioner in 1998. Selig oversaw baseball through the 1994 strike, the introduction of the wild card, interleague play, and the de facto merging of the National and American Leagues under the Office of the Commissioner. He was instrumental in organizing the World Baseball Classic in 2006. Selig also introduced revenue sharing. He is credited for the financial turnaround of baseball during his tenure with a 400 percent increase in the revenue of MLB and annual record breaking attendance. During Selig's term of service, the use of steroids and other performance-enhancing drugs beca ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Amortization (tax Law)
In tax law, amortization refers to the cost recovery system for intangible property. Although the theory behind cost recovery deductions of amortization is to deduct from basis in a systematic manner over an asset's estimated useful economic life so as to reflect its consumption, expiration, obsolescence or other decline in value as a result of use or the passage of time, many times a perfect match of income and deductions does not occur for policy reasons. Depreciation A corresponding concept for tangible assets is depreciation. Methodologies for allocating amortization to each tax period are generally the same as for depreciation. However, many intangible assets such as goodwill or certain brands may be deemed to have an indefinite useful life, or “self-created” and are therefore not subject to amortization. In the United States of America The United States Congress gives taxpayers larger deductions in the early years of an asset’s useful life. Intangible property Intangibl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Intangible Property
Intangible property, also known as incorporeal property, is something that a Natural person, person or corporation can have Ownership, ownership of and can transfer ownership to another person or corporation, but has no Tangibility, physical substance, for example brand identity or knowledge/intellectual property. It generally refers to statutory creations, such as copyright, trademarks, or patents. It excludes tangible property like real property (land, buildings, and Fixture (property law), fixtures) and personal property (ships, automobiles, tools, etc.). In some jurisdictions, intangible property are referred to as ''choses in action''. Intangible property is used in distinction to tangible property. It is useful to note that there are two forms of intangible property: legal intangible property (which is discussed here) and competitive intangible property (which is the source from which legal intangible property is created but cannot be owned, extinguished, or transferred) ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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