Composite Account Method

Legal Definition and Related Resources of Composite Account Method

Meaning of Composite Account Method

For income tax purposes, all of property items utilized by taxpayer in its operation are grouped into one account and one composite rate of depreciation is applied to the group with the rate based on the average useful life of all property included in the group and applied to average of beginning and ending balance of asset account for the taxable year. Conn. Light & power Co. v U.S., 368 F.2d 233, 177 Ct. Cl. 395.

Related Entries of Composite Account Method in the Encyclopedia of Law Project

Browse or run a search for Composite Account Method in the American Encyclopedia of Law, the Asian Encyclopedia of Law, the European Encyclopedia of Law, the UK Encyclopedia of Law or the Latin American and Spanish Encyclopedia of Law.

Composite Account Method in Historical Law

You might be interested in the historical meaning of this term. Browse or search for Composite Account Method in Historical Law in the Encyclopedia of Law.

Legal Abbreviations and Acronyms

Search for legal acronyms and/or abbreviations containing Composite Account Method in the Legal Abbreviations and Acronyms Dictionary.

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