United States business purpose doctrinesubstance over formeconomic substance

Gregory v Helvering

293 US 465 (1935)

JurisdictionUnited States

CourtSupreme Court of the United States

Year1935

StatusBinding authority

Key Principle

A transaction that has no business purpose other than tax avoidance may be disregarded for tax purposes even if it complies with the literal terms of the tax code (the economic substance doctrine).

Area of Law

tax

Related Cases

Moore v United States 602 U.S. 572 (2024)

Connelly v United States 602 U.S. 521 (2024)

Commissioner v Banks 543 US 426 (2005)

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