Farmers State Bank v. Commissioner

Farmers State Bank v. Commissioner.

Farmers State Bank v. Commissioner

Docket No. 766.

United States Tax Court

1945 Tax Ct. Memo LEXIS 322; 4 T.C.M. (CCH) 94; T.C.M. (RIA) 45043;

January 25, 1945

Henry C. Moeller, C.P.A., 1124 Omaha Nat. Bank Bldg., Omaha, Nebr., for the petitioner. Gene W. Reardon, Esq., for the respondent.

MELLOTT

Memorandum Opinion

MELLOTT, Judge: The Commissioner determined deficiencies in petitioner's income and excess profits tax as follows:

Excess

Year

Income Tax

Profits Tax

1940

$1,010.81

1941

1,273.88

$788.49

The proceeding was submitted upon a stipulation of facts and the facts are…