- 10 -
Date of
Issuer Check Amount Disposition
Quinn 01-22-86 $3,833.81 $833.81 deposited in Mr. Sutton's personal NCNB account, $3,000 in
cash withheld by Mr. Sutton
- -86 971.40 $900 deposited into Mr. Sutton's personal NCNB account, $71.40 in
cash withheld by Mr. Sutton
01-01-87 1,354.35 $1,000 deposited in Mr. Sutton's personal NCNB account, $354.35 in
cash withheld by Mr. Sutton
01-26-87 1,363.41 Cashed by Mr. Sutton
03-16-87 1,451.04 Cashed by Mr. Sutton
04-23-87 1,032.40* Cashed by Mr. Sutton
08-14-87 1,047.67 Cashed by Mr. Sutton
09-18-87 1,355.31 Cashed by Mr. Sutton
10-16-87 868.41 Cashed by Mr. Sutton
12-11-87 3,089.86 Cashed by Mr. Sutton
01-22-88 1,379.27 Cashed by Mr. Sutton
04-01-88 895.65 Cashed by Mr. Sutton
11-15-88 354.13 Cashed by Mr. Sutton
Coke 05- -86 212.50 Cashed by Mr. Sutton
Carolina Dairies 08-05-87 315.24 Cashed by Mr. Sutton
Nash Finch 03-16-90 749.19 Cashed by Mr. Sutton
*$500 of this amount was reported on the corporate return and only $532.40 was taxed to the Suttons.
The record does not show what happened to the proceeds of these
rebate and coupon checks. The Suttons did not report any of
these amounts on their individual tax returns.
Checks to or on Behalf of the Corporate Petitioner
During the calendar years 1986 through 1990, Mr. Sutton
wrote personal checks to, or for the benefit of, the corporate
petitioner as summarized below.2
Deposited in Corporate Written to Disposition Total
Year Bank Account Cashed Vendor Unknown Amount
1986 $84,400 $2,900 --- $17,500 $104,800
1987 113,500 21,000 $2,000 --- 136,500
1988 51,832 --- --- --- 51,832
1989 45,651 --- 2,606 1,000 49,257
1990 39,625 2,000 900 1,500 44,025
A few of these checks were written to third parties; the majority
were payable to "Sutton Food Stores" and were deposited in the
corporate petitioner's bank account. Many of the checks
2 Amounts are rounded to the nearest whole dollar.
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Last modified: May 25, 2011