Gullett v. Commissioner
United States Board of Tax Appeals
Where resolution of directors restricted corporation, because of involved financial condition, from paying in full officers' salaries, and condition of company was such that cash for full payment of salaries was not available, held, only amount of salaries paid to officers should be included in their individual incomes, and unpaid balances of salaries originally voted were not constructively received.
1Opinion of the Court
OPINION.
Goodeich:
Respondent determined deficiencies in income tax for 1928 against C. E. Gullett in the amount of $8,901.30, and against W. J. Gullett in the amount of $3,550.01. In these proceedings which, upon motion, were consolidated, petitioners seek redetermina-tions of those deficiencies. There is but one issue, common to both cases, for our decision, namely, whether respondent erred in including in each petitioner’s income a certain amount as salary, constructively, though not in fact, received.
The primary facts are not in dispute. They are presented by an agreed statement of counsel,…
2Cited by29 opinions
- Basila v. CommissionerUnited States Tax Court · 1961
- Young Door Co., Eastern Div. v. CommissionerUnited States Tax Court · 1963
- Hughes v. CommissionerUnited States Tax Court · 1964
- Jerome Castree Interiors, Inc. v. CommissionerUnited States Tax Court · 1975
- Martin v. CommissionerUnited States Tax Court · 1991
24 more not listed; retrieve them via the Exa API.