Schermerhorn Oil Corp. v. Commissioner
United States Board of Tax Appeals
1. Employment contracts between oil companies and a commercial gelogist provided generally that the geologist should devote his time and skill to exploring possible oil developments, for which he was to be paid a salary and expenses.
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1. Employment contracts between oil companies and a commercial gelogist provided generally that the geologist should devote his time and skill to exploring possible oil developments, for which he was to be paid a salary and expenses. The companies were to be the sole judges as to the acquisition of properties; but if any were acquired upon the recommendation of the gelogist he was to be paid, in addition to his salary, 10 percent of the net profits resulting from the sale of oil produced upon any such property after the companies had reimbursed themselves for the expenses incurred in…
1Opinion of the Court
SCHERMERHORN OIL CORPORATION, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
SCHERMERHORN-WINTON COMPANY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
CHARLES WELDON TOMLINSON, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Schermerhorn Oil Corp. v. Commissioner
Docket Nos. 103049, 104204, 100663.
United States Board of Tax Appeals
46 B.T.A. 151; 1942 BTA LEXIS 902;
January 23, 1942, Promulgated
1. Employment contracts between oil companies and a commercial gelogist provided generally that the geologist should devote his time and skill to exploring possible…
2Cases cited16 opinions
- Lucas v. EarlSupreme Court of the United States · 1930
- Helvering v. HorstSupreme Court of the United States · 1940
- North American Oil Consolidated v. BurnetSupreme Court of the United States · 1932
- Blair v. CommissionerSupreme Court of the United States · 1937
- Helvering v. EubankSupreme Court of the United States · 1941
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