La Grand Industrial Supply Co. v. United States
United States Tax Court
1. The sales of standard commercial articles made by petitioner, a sole proprietorship engaged primarily in the wholesale distribution of foundry supplies, should not be excluded from its renegotiable business. 2. Salary allowance and amount of excessive profits made by petitioner from its renegotiable business determined.
1Opinion of the Court
OPINION.
ÁRUndell, Judge:
The respondent has determined by a unilateral order that the petitioner, the La Grand Industrial Supply Company, received excessive profits for the year 1943 in the amount of not less than $19,000 2 after allowing a proportional part of a salary allowance of $20,000 for the services of the owner and sole proprietor, John La Grand.
Both the salary allowance and the determination of excessive profits are challenged by the petitioner in the proceeding before us. Petitioner also contends that the respondent has erroneously included in the renegotiable portion of the…
2Cited by3 opinions
- North American Aviation, Inc. v. Renegotiation BoardUnited States Tax Court · 1962
- La Grand Industrial Supply Co. v. United StatesUnited States Tax Court · 1954
- North American Aviation, Inc. v. Renegotiation BoardUnited States Tax Court · 1962