Jobco Manufacturing Company, Inc., A/k/a Jobco, Inc.,petitioner-appellant, v. Commissioner of Internal Revenue Service, Respondent-appellee, 951 F.2d 1259 (10th Cir. 1991)

The Petitioner, Jobco Manufacturing Company, Inc., appeals from a decision of the United States Tax Court holding that Petitioner was not entitled to include in its consolidated return for 1983 the net operating loss carryover deduction of Bewley Manufacturing Company, Inc.^*** 

Petitioner contends that it was entitled to include the net operating loss of Bewley on the grounds that a reorganization of Bewley and the Petitioner occurred, within the meaning of § 368(a) (1) (F) of the Internal Revenue Code of 1954 (as amended and in effect during 1983, the year at issue). The Tax Court held that no "F" reorganization occurred; that there was no plan of reorganization under § 361 of the Code and that, as a result, no operating loss carryover under § 381 of the code was available. On appeal, the Petitioner contends that the Tax Court erred in its legal and factual determinations.

We have carefully reviewed all of the arguments raised by Petitioner in its brief on appeal, as well as the record and the decision below. Applying our standard of review to the findings of fact by the Tax Court, we conclude that the Tax Court did not err.

Accordingly, the judgment of the United States Tax Court is AFFIRMED.