Trace v. United States
United States Tax Court
War Contracts Price Adjustment Board determined that petitioner, a manufacturer's representative, realized excessive profits of $ 65,000 for the year 1943 and $ 10,000 for each of the years 1944 and 1945. Held: (1) That salary allowance should be made for one person who negotiated sales in 1943 and that the petitioner's profits for that year were excessive to the extent of $ 55,000; (2) that the Board did not err in refusing to make allowance for compensation to the…
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War Contracts Price Adjustment Board determined that petitioner, a manufacturer's representative, realized excessive profits of $ 65,000 for the year 1943 and $ 10,000 for each of the years 1944 and 1945. Held: (1) That salary allowance should be made for one person who negotiated sales in 1943 and that the petitioner's profits for that year were excessive to the extent of $ 55,000; (2) that the Board did not err in refusing to make allowance for compensation to the petitioner in lieu of salary; (3) that no error has been shown in the Board's determinations for the years 1944 and 1945.
1Opinion of the Court
OPINION.
Atkins, Judge:
The petitioner was a manufacturer’s representative whose compensation consisted of commissions on sales of his principals’ products. As such, any excessive fees earned on sales of commodities to the Government for war-end use are recoverable under the [Renegotiation Act. French v. War Contracts Price Adjustment Board, 13 T. C. 276.
The War Contracts Price Adjustment Board has determined that the petitioner’s profits, which consisted of commissions on renegotiable sales, were excessive in the amounts of $65,000 for the year 1943 and $10,000 for each of the years 1944 and…
2Cases cited4 opinions
- Cohen v. Secretary of WarUnited States Tax Court · 1946
- Greaves v. War Contracts Price Adjustment BoardUnited States Tax Court · 1948
- French v. War Contracts Price Adjustment BoardUnited States Tax Court · 1949
- Robert Rogers, Inc. v. United StatesUnited States Court of Claims · 1950
3Cited by4 opinions
- Beets v. Renegotiation BoardUnited States Tax Court · 1962
- Beets v. Renegotiation BoardUnited States Tax Court · 1962
- Beets v. Renegotiation BoardUnited States Tax Court · 1962
- Trace v. United StatesUnited States Tax Court · 1955