Legal Opinion
Dexsil Corporation v. Commissioner of Internal Revenue
Court of Appeals for the Second Circuit
Decided June 3, 1998No. 95-4209PublishedCited by 12 opinions
1Opinion of the Court
JOHN M. WALKER, Jr., Circuit Judge:
Section 162(a) of the Internal Revenue Code, 26 U.S.C. § 162(a), provides that:
There shall be allowed as a deduction all the ordinary and necessary expenses paid or incurred during the taxable year in carrying on any trade or business, including—(1) a reasonable allowance for salaries or other compensation for personal services actually rendered;....
At issue in this case is whether the amount of salary and bonuses paid by Dexsil during the 1989 and 1990 tax years to Ted Lynn— Dexsil’s president, chief executive officer, treasurer, and chief financial officer…
2Cases cited9 opinions
- Mayson Mfg. Co. v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1949
- Elliotts, Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1983
- Owensby & Kritikos, Inc. v. CommissionerCourt of Appeals for the Fifth Circuit · 1987
- James D. Kennedy, Jr. And Dorothy H. Kennedy, and Cherokee Warehouses, Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1982
- James H. Rutter and Marie R. Rutter v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1988
4 more not listed; retrieve them via the Exa API.
3Cited by12 opinions
- Exacto Spring Corporation v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1999
- Eberl's Claim Service, Inc. v. CommissionerCourt of Appeals for the Tenth Circuit · 2001
- Haffner's Service Stations, Inc. v. CommissionerCourt of Appeals for the First Circuit · 2003
- Seventeen Thirty Corp. v. Director, New Jersey Division of TaxationNew Jersey Tax Court · 1999
- Guzman v. Local 32B-32J, Service Employees International UnionCourt of Appeals for the Second Circuit · 1998
7 more not listed; retrieve them via the Exa API.