Steur v. Commissioner
United States Tax Court
Prior to August 1940 petitioner purchased tobacco for H. Duys & Co., in Holland and the Dutch East Indies, on a commission of 3 per cent of purchases, plus an annual salary of $ 10,000. In August 1940 petitioner and Duys entered into a new contract providing for the payment of the sum of 3 per cent commission and $ 10,000 salary, plus a bonus of 25 per cent of the net profit on the sales of tobacco bought by the petitioner and sold by Duys; Duys, however, to have a credit…
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Prior to August 1940 petitioner purchased tobacco for H. Duys & Co., in Holland and the Dutch East Indies, on a commission of 3 per cent of purchases, plus an annual salary of $ 10,000. In August 1940 petitioner and Duys entered into a new contract providing for the payment of the sum of 3 per cent commission and $ 10,000 salary, plus a bonus of 25 per cent of the net profit on the sales of tobacco bought by the petitioner and sold by Duys; Duys, however, to have a credit thereon of the amount of the 3 per cent commission on purchases. The amount of net profit -- and hence the amount of…
1Opinion of the Court
J. A. C. Steur, Petitioner, v. Commissioner of Internal Revenue, Respondent
Steur v. Commissioner
Docket No. 6350
United States Tax Court
7 T.C. 1075; 1946 U.S. Tax Ct. LEXIS 45;
October 31, 1946, Promulgated
Decision will be entered for the respondent.
Prior to August 1940 petitioner purchased tobacco for H. Duys & Co., in Holland and the Dutch East Indies, on a commission of 3 per cent of purchases, plus an annual salary of $ 10,000. In August 1940 petitioner and Duys entered into a new contract providing for the payment of the sum of 3 per cent commission and $ 10,000 salary, plus a bonus of 25…
2Cases cited1 opinion
- Steur v. CommissionerUnited States Tax Court · 1946