Saia Electric, Inc. v. Commissioner
United States Tax Court
Based on all the facts presented, compensation paid by petitioner to its president and major shareholder was unreasonable and excessive. Held: Reasonable compensation determined.
1Opinion of the Court
SAIA ELECTRIC, INC., Petitioner v. COMMISSIONER OF INTERNAL REVENUE, Respondent
Saia Electric, Inc. v. Commissioner
Docket No. 2050-73
United States Tax Court
T.C. Memo 1974-290; 1974 Tax Ct. Memo LEXIS 27; 33 T.C.M. (CCH) 1357; T.C.M. (RIA) 740290;
November 18, 1974, Filed.
Based on all the facts presented, compensation paid by petitioner to its president and major shareholder was unreasonable and excessive. Held: Reasonable compensation determined.
Theodore L. Jones and Kenneth Addison Duncan, for the petitioner.
Paul H. Waldman, for the respondent.
STERRETT
MEMORANDUM FINDINGS OF FACT AND OPINION
STER…
2Cases cited7 opinions
- Botany Worsted Mills v. United StatesSupreme Court of the United States · 1929
- Mayson Mfg. Co. v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1949
- Boyle Fuel Co. v. CommissionerUnited States Tax Court · 1969
- Jones Brothers Bakery, Inc. v. The United StatesUnited States Court of Claims · 1969
- Charles Schneider & Co., Inc. v. Commissioner of Internal Revenue, Future Foam, Inc. v. Commissioner of Internal Revenue, Charles, Inc. v. Commissioner of Internal Revenue, Central Woodworking Co. Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Eighth Circuit · 1974
2 more not listed; retrieve them via the Exa API.
3Cited by2 opinions
- Kennedy v. CommissionerUnited States Tax Court · 1979
- Kennedy v. CommissionerUnited States Tax Court · 1979