Ross Glove Co. v. Commissioner
United States Tax Court
P was president and controlling shareholder of a Wisconsin glove-manufacturing corporation, and he desired to establish a glove-manufacturing operation in the Philippines.
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P was president and controlling shareholder of a Wisconsin glove-manufacturing corporation, and he desired to establish a glove-manufacturing operation in the Philippines. In 1960, a Bahamian corporation was formed, with P as the controlling shareholder, for the primary purpose of manufacturing gloves in the Philippines, and such corporation did conduct the business of the Philippine operation, although P represented to the Philippine authorities that he was the sole proprietor of the Philippine operation. During 1961 and 1962, the Bahamian corporation provided sewing services, made advances,…
1Opinion of the Court
SimpsoN, Judge:
The respondent determined the following deficiencies in, and additions to, the petitioners’ income tax:
Petitioner Year Deficiency Sec. 6653(b) [2] Sec. 6664(a) addition addition Ross Glove Co.1961 1962 1963 1964 1966 1968 1969 Carl and Janet Ross__...._... 1961 1962 1963 1966 1966 1968 1969 $19,076.42 . 66,424.72 . 73,307.41 . 66,528.43 . 60.269.62 $30,129.76 . 66,389.64 . 17,247.13 . 86,234.69 42,617.34 $49.06 170,606.43 86,263.21 34.24 146,772.19 73,386.09 28.10 46,046.76 22,623.38 . 126,740.11 62,870.06 . 130,982.05 66,491.03 . 38.109.62 19,064.81 .
The respondent also…
2Cases cited74 opinions
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