Warren Co. v. Commissioner
United States Board of Tax Appeals
1. Petitioner, a manufacturer, sold its product through agents under installment conditional sales agreements. Petitioner quoted a "net price" to the agent, who had authority to fix the "selling price," subject to approval by petitioner. The purchaser agreed to pay the selling price to petitioner, and petitioner agreed to pay the agent as his commission the difference between the selling price and the net price.
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1. Petitioner, a manufacturer, sold its product through agents under installment conditional sales agreements. Petitioner quoted a "net price" to the agent, who had authority to fix the "selling price," subject to approval by petitioner. The purchaser agreed to pay the selling price to petitioner, and petitioner agreed to pay the agent as his commission the difference between the selling price and the net price. Payment of a certain part of the agent's commission was to be deferred until collection from the customer was made in full. Petitioner kept its books on the accrual system. Held,…
1Opinion of the Court
THE WARREN COMPANY, INCORPORATED, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Warren Co. v. Commissioner
Docket Nos. 104373, 104477.
United States Board of Tax Appeals
46 B.T.A. 897; 1942 BTA LEXIS 800;
April 8, 1942, Promulgated
1. Petitioner, a manufacturer, sold its product through agents under installment conditional sales agreements. Petitioner quoted a "net price" to the agent, who had authority to fix the "selling price," subject to approval by petitioner. The purchaser agreed to pay the selling price to petitioner, and petitioner agreed to pay the agent as his commission…
2Cases cited11 opinions
- Helvering v. Stockholms Enskilda BankSupreme Court of the United States · 1934
- Cochran & Sayre v. United StatesSupreme Court of the United States · 1895
- American National Co. v. United StatesSupreme Court of the United States · 1927
- Shoemaker-Nash, Inc. v. CommissionerUnited States Board of Tax Appeals · 1940
- Reuben H. Donnelley Corp. v. CommissionerUnited States Board of Tax Appeals · 1931
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