McKay v. Commissioner
United States Tax Court
P was an officer of A. A terminated P's employment. P filed a lawsuit in Federal District Court against A for wrongful discharge, breach of employment contract, RICO violations, and punitive damages. The jury awarded P lost compensation in the amount of $ 1,602,103 and future damages of $ 12,846,209 that were trebled for A's violation of RICO. The jury also awarded P a total of $ 1,250,000 in punitive damages.
Read the full summary
P was an officer of A. A terminated P's employment. P filed a lawsuit in Federal District Court against A for wrongful discharge, breach of employment contract, RICO violations, and punitive damages. The jury awarded P lost compensation in the amount of $ 1,602,103 and future damages of $ 12,846,209 that were trebled for A's violation of RICO. The jury also awarded P a total of $ 1,250,000 in punitive damages. After the award and final judgment were entered, the parties negotiated a settlement agreement under which A paid P $ 16,744,300 in extinguishment of P's claims. The agreement further…
1Opinion of the Court
Bill E. McKay, Jr. and Lana S. McKay, Petitioners v. Commissioner of Internal Revenue, Respondent
McKay v. Commissioner
Docket Nos. 3289-92, 11987-921
United States Tax Court
102 T.C. 465; 1994 U.S. Tax Ct. LEXIS 19; 102 T.C. No. 16;
March 28, 1994, Filed
Decisions will be entered under Rule 155.
P was an officer of A. A terminated P's employment. P filed a lawsuit in Federal District Court against A for wrongful discharge, breach of employment contract, RICO violations, and punitive damages. The jury awarded P lost compensation in the amount of $ 1,602,103 and future damages of $ 12,846,209 that…
2Cases cited38 opinions
- United States v. BoyleSupreme Court of the United States · 1985
- United States v. GilmoreSupreme Court of the United States · 1963
- United States v. BurkeSupreme Court of the United States · 1992
- United States v. SullivanSupreme Court of the United States · 1927
- Primuth v. CommissionerUnited States Tax Court · 1970
33 more not listed; retrieve them via the Exa API.