Brown Shoe Co. v. Commissioner
United States Board of Tax Appeals
Because of a desire to assure itself of the services of its president, petitioner optioned 8,000 shares of its capital stock to him at a price slightly over its then market value, in consideration for which its president agreed to serve as such officer, at his then prevailing compensation, for five years more.
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Because of a desire to assure itself of the services of its president, petitioner optioned 8,000 shares of its capital stock to him at a price slightly over its then market value, in consideration for which its president agreed to serve as such officer, at his then prevailing compensation, for five years more. During the fiscal year ending October 31, 1937, petitioner sold 1,500 shares of its previously purchased stock to its president under this option and, in the same year, sold 1,000 of the purchased shares released by its president and an additional 1,000 shares to key employees at a…
1Opinion of the Court
BROWN SHOE COMPANY, INC., PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Brown Shoe Co. v. Commissioner
Docket No. 102047.
United States Board of Tax Appeals
45 B.T.A. 212; 1941 BTA LEXIS 1157;
September 26, 1941, Promulgated
Because of a desire to assure itself of the services of its president, petitioner optioned 8,000 shares of its capital stock to him at a price slightly over its then market value, in consideration for which its president agreed to serve as such officer, at his then prevailing compensation, for five years more. During the fiscal year ending October 31, 1937,…
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