Definitions of statutory law
laws passed by a legislature
The government would like to compile an electronic database of statutory law.
Phrase Bank for statutory law
In Sinclair Broad. Grp., Inc. v. Commissioner, the Tax Court found that the Commissioner’s “double-application theory” relied on in Revenue Notice 99-07 had no basis in statutory law and there was no evidence that the legislature intended that § 382 limitation be apportioned.
(a) To the fullest extent permitted by law, the Officer shall have no monetary liability … as amended, or similar provision of any state statutory law or common law.
The court found that such a duty existed under both common law and New York statutory law.
There has never been a disciplinary procedure for anyone caught doing so because no statutory law exists.
Statutory law requires that any federal limitation amount determined under I.R.C. § 382 after a corporate acquisition must be applied to net income prior to apportionment in each post-change year to which a NOL is carried forward.
Additional Notes for statutory law
statute (noun) a piece of codified law passed by a legislative body, rather than uncodified derived from custom, books of authority and cases tried in court etc: The statute was enacted to deal with the problem of insider trading.