Legal Opinion
Hammond Lead Products, Inc. v. Commissioner of Internal Revenue
Court of Appeals for the Seventh Circuit
Decided April 30, 1970No. 17783PublishedCited by 27 opinions
1Opinion of the Court
CUMMINGS, Circuit Judge.
The sole question raised on this appeal is whether the Tax Court correctly found that “reasonable compensation” for executive officer William Wilke, Jr. was substantially less than the amounts Taxpayer corporation had deducted from its taxable income as ordinary and necessary business expenses.2
Taxpayer Hammond Lead Products, Inc. is located in Hammond, Indiana. It is engaged in the production of red and white lead, litharge and lead silicates. Some of its products are used in the glass and ceramic industries. Taxpayer commenced operations in September 1930; William…
2Cases cited2 opinions
- Commissioner v. DubersteinSupreme Court of the United States · 1960
- Botany Worsted Mills v. United StatesSupreme Court of the United States · 1929
3Cited by27 opinions
- Pepsi--Cola Bottling Company of Salina, Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Tenth Circuit · 1976
- Pepsi-Cola Bottling Co. v. CommissionerUnited States Tax Court · 1974
- Home Interiors & Gifts, Inc. v. CommissionerUnited States Tax Court · 1980
- Charles Schneider & Co. v. CommissionerCourt of Appeals for the Eighth Circuit · 1974
- Owensby & Kritikos, Inc. v. CommissionerCourt of Appeals for the Fifth Circuit · 1987
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