Chism Ice Cream Co. v. Commissioner
United States Tax Court
1. Held, that part of the "salary" which the petitioner corporation paid to its president during each of the years 1953 through 1956, after he had become physically incapacitated and was confined to his home, represents excessive compensation which is not deductible by the corporation either as "salary" or as "health insurance payments."
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1. Held, that part of the "salary" which the petitioner corporation paid to its president during each of the years 1953 through 1956, after he had become physically incapacitated and was confined to his home, represents excessive compensation which is not deductible by the corporation either as "salary" or as "health insurance payments." Amounts of reasonable salary to said officer for said years, which are deductible by the corporation, determined. 2. Held, that premiums paid by the petitioner corporation on a retirement income policy covering the life of its general manager, as to which the…
1Opinion of the Court
Chism Ice Cream Company v. Commissioner. Estate of E. W. Chism, Deceased, Clara Chism, Executrix, and Clara Chism v. Commissioner.
Chism Ice Cream Co. v. Commissioner
Docket Nos. 80199, 80200.
United States Tax Court
T.C. Memo 1962-6; 1962 Tax Ct. Memo LEXIS 302; 21 T.C.M. (CCH) 25; T.C.M. (RIA) 62006;
January 15, 1962
1. Held, that part of the "salary" which the petitioner corporation paid to its president during each of the years 1953 through 1956, after he had become physically incapacitated and was confined to his home, represents excessive compensation which is not deductible by the…
2Cases cited6 opinions
- Doyle v. Mitchell Brothers Co.Supreme Court of the United States · 1918
- Baird v. CommissionerUnited States Tax Court · 1955
- Estate of Rainger v. CommissionerUnited States Tax Court · 1949
- Stevens v. CommissionerUnited States Tax Court · 1961
- Whitaker v. CommissionerUnited States Tax Court · 1960
1 more not listed; retrieve them via the Exa API.
3Cited by2 opinions
- Jonathan B. Geftman v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1998
- Geftman v. Comm IRSCourt of Appeals for the Third Circuit · 1998