BOISE CASCADE CORPORATION, Plaintiff, v. UNITED STATES OF AMERICA, Defendant., UNITED STATES DISTRICT COURT FOR THE DISTRICT OF IDAHO, Civil Case No. 97-0312-S-BLW, November 1, 2001

BOISE CASCADE CORPORATION, Plaintiff, v. UNITED STATES OF AMERICA, Defendant.

UNITED STATES DISTRICT COURT FOR THE DISTRICT OF IDAHO

Civil Case No. 97-0312-S-BLW

November 1, 2001

AMENDED JUDGEMENT

The Court has before it a Report and Recommendation filed by the Chief United States Magistrate Judge. The Report was filed on November 24, 1998. On Janu4ry 11, 1999, the parties stipulated to administratively terminating the case to pursue settlement. When the settlement broke down, the case was reopened in July, 2000. Because of the passage of time caused by the settlement talks, the Court ordered further briefing, which has now been received.

The Court has examined this briefing and the Report pursuant to 2,9 U.S.C. ╖636(b)(1). The Court finds that the Report accurately sets forth the facts and correctly applies the governing legal standards. The Court agrees with the Chief Magistrate Judge that the redemptions qualified as dividends under ╖ 302(b) of the Internal Revenue Code and hence were deductible under ╖ 404(k). The Court further finds that Boise Cascade's deduction is not barred by ╖ 162(k)(1) of the Code. Accordingly,

NOW THEREFORE 1T IS HEREBY ORDERED, ADJUDGED, AND DECREED, that the Report and Recommendation (Docket No. 33) shall be, and the same is hereby, ADOPTED as the decision of the District Court and incorporated fully herein by reference.

IT IS FURTHER ORDERED, ADJUDGED, ANTI DECREED, that the plaintiff's motion for summary judgment (docket no. 17), is hereby GRANTED.

IT IS FURTHER ORDERED, ADJUDGED, AND DECREED, that the defendant's motion [or summary judgment (docket no. 14) is hereby DENIED.

IT IS FURTHER ORDERED, ADJUDGED, AND DECREED, that plaintiff recover a tax refund in the amount of $$40.00, together with interest thereon as allowed by law.

Dated this 1st day of November, 2001.

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