Brush-Moore Newspapers, Inc. v. Commissioner
United States Board of Tax Appeals
1. Petitioner contracted for the purchase of certain stock of a corporation publishing a newspaper which contract also provided a salary to the seller payable whether he lived or died, and the seller died before rendering any services; a controversy as to payment of so much of the purchase price of the stock as was designated salary was compromised and paid.
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1. Petitioner contracted for the purchase of certain stock of a corporation publishing a newspaper which contract also provided a salary to the seller payable whether he lived or died, and the seller died before rendering any services; a controversy as to payment of so much of the purchase price of the stock as was designated salary was compromised and paid. Held, payments made under the contract are not deductible as ordinary and necessary business expense. 2. Contributions, not for business reasons nor calculated to produce commensurate returns, made by a corporation publishing a newspaper…
1Opinion of the Court
THE BRUSH-MOORE NEWSPAPERS, INC., PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Brush-Moore Newspapers, Inc. v. Commissioner
Docket No. 73673.
United States Board of Tax Appeals
33 B.T.A. 362; 1935 BTA LEXIS 760;
November 1, 1935, Promulgated
1. Petitioner contracted for the purchase of certain stock of a corporation publishing a newspaper which contract also provided a salary to the seller payable whether he lived or died, and the seller died before rendering any services; a controversy as to payment of so much of the purchase price of the stock as was designated salary was…
2Cases cited9 opinions
- Welch v. HelveringSupreme Court of the United States · 1933
- Kornhauser v. United StatesSupreme Court of the United States · 1928
- Burnet v. HoustonSupreme Court of the United States · 1931
- North Am. Inv. Co. v. CommissionerUnited States Board of Tax Appeals · 1931
- Evening Star Newspaper Co. v. CommissionerUnited States Board of Tax Appeals · 1933
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