Bavis v. Commissioner
United States Tax Court
Petitioners, key employees of the Chichester Chemical Company owned by D. D. Chidester, agreed after Chidester's death in 1927 to remain with the Company in consideration of the salaries which they were then receiving plus a ratable share of 6 per cent of gross sales of the Company.
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Petitioners, key employees of the Chichester Chemical Company owned by D. D. Chidester, agreed after Chidester's death in 1927 to remain with the Company in consideration of the salaries which they were then receiving plus a ratable share of 6 per cent of gross sales of the Company. Chidester owed large amounts of debts at the time of his death and his wife, who was executrix of his estate, agreed with the creditors that the Company should be operated under an agreement with the creditors providing for their eventual payment. The key employees of the Company, including petitioners, agreed to…
1Opinion of the Court
Frank R. Bavis, Petitioner, v. Commissioner of Internal Revenue, Respondent. Thomas F. Bell, Petitioner, v. Commissioner of Internal Revenue, Respondent. Donato A. Giangiulio, Petitioner, v. Commissioner of Internal Revenue, Respondent
Bavis v. Commissioner
Docket Nos. 26414, 26734, 27398
United States Tax Court
18 T.C. 418; 1952 U.S. Tax Ct. LEXIS 178;
May 29, 1952, Promulgated
Decisions will be entered for the respondent.
Petitioners, key employees of the Chichester Chemical Company owned by D. D. Chidester, agreed after Chidester's death in 1927 to remain with the Company in consideration of the…
Also in this document: Dissent.
2Cases cited6 opinions
- Kenny v. CommissionerUnited States Tax Court · 1945
- Langer v. CommissionerUnited States Tax Court · 1951
- Langer's Estate v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1950
- Bavis v. CommissionerUnited States Tax Court · 1952
- Dean v. CommissionerUnited States Tax Court · 1948
1 more not listed; retrieve them via the Exa API.