District of Columbia v. Pierce Associates, Inc.

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• insurance proceeds that taxpayer received for flood damage to its manufacturing facility constitute “business income”; the extraordinary nature or the infrequency of the transactions is irrelevant
• “[i]f the property had an integral function in the taxpayer’s unitary business, its income properly can be apportioned and taxed as business income, even though the transaction itself does not reflect the taxpayer’s normal trade or business”
• two clauses set forth independent, alternative tests
• two clauses set forth independent, alternative tests
• two clauses set forth independent, alternative tests
• superseded by Iowa Code § 422.32

Source: CourtListener parenthetical corpus (CC0).