Yapp Corp. v. Commissioner

YAPP CORPORATION, FORMERLY SPRAY RITE SERVICE CORPORATION, Petitioner v. COMMISSIONER OF INTERNAL REVENUE, Respondent

Yapp Corp. v. Commissioner

Docket No. 2064-90

United States Tax Court

T.C. Memo 1992-348; 1992 Tax Ct. Memo LEXIS 371; 63 T.C.M. (CCH) 3155;

June 18, 1992, Filed

Decision will be entered under Rule 155.

Cary B. Edgar, for petitioner.

William T. Derick, for respondent.

FAY

FAY

MEMORANDUM OPINION

FAY, Judge: Respondent determined a deficiency of $ 1,738,691 in petitioner's Federal income tax for the year ended December 31, 1984. After concessions by the parties, the only remaining issue for…