Wilson v. Commissioner
United States Tax Court
Ps were five of seven shareholders of I.H.S., a subchapter S corporation operating two wholesale beverage distributing outlets in Michigan. During the years in issue, the State of Michigan required beverage distributors to redeem beverage containers returned to them by local dealers. I.H.S. did not report as income deposits it received in one year but anticipated would be paid out to local dealers in a later year.
Read the full summary
Ps were five of seven shareholders of I.H.S., a subchapter S corporation operating two wholesale beverage distributing outlets in Michigan. During the years in issue, the State of Michigan required beverage distributors to redeem beverage containers returned to them by local dealers. I.H.S. did not report as income deposits it received in one year but anticipated would be paid out to local dealers in a later year. I.H.S. placed these deposits in a "container deposits payable" account. Held, the deposits I.H.S. placed in its container deposits payable account were properly includable in…
1Opinion of the Court
CARYN WILSON, ET AL., 1 Petitioners v. COMMISSIONER OF INTERNAL REVENUE, Respondent
Wilson v. Commissioner
Docket Nos. 10962-84, 10963-84, 10964-84, 10965-84, 10966-84.
United States Tax Court
T.C. Memo 1986-140; 1986 Tax Ct. Memo LEXIS 463; 51 T.C.M. (CCH) 811; T.C.M. (RIA) 86140;
April 14, 1986.
Ps were five of seven shareholders of I.H.S., a subchapter S corporation operating two wholesale beverage distributing outlets in Michigan. During the years in issue, the State of Michigan required beverage distributors to redeem beverage containers returned to them by local dealers. I.H.S. did not report…
2Cases cited9 opinions
- Brown v. HelveringSupreme Court of the United States · 1934
- Automobile Club of New York, Inc. v. CommissionerUnited States Tax Court · 1959
- Danenberg v. CommissionerUnited States Tax Court · 1979
- Automobile Club of New York, Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1962
- Okonite Co. v. CommissionerUnited States Tax Court · 1945
4 more not listed; retrieve them via the Exa API.
3Cited by1 opinion
- Colonial Wholesale Beverage Corp. v. CommissionerUnited States Tax Court · 1988