- 15 -
2(...continued)
(b) During the years 1975, 1976 and 1977,
petitioners owned and controlled two corporations known
as Ezy Parks, Inc. and Tumble Down, Inc.
(c) Ezy Parks, Inc. was incorporated in
Pennsylvania on December 26, 1956 and at all times was
wholly owned and controlled by petitioners.
(d) Tumble Down, Inc. was incorporated in
Pennsylvania on December 18, 1958 and was at all times
wholly owned and controlled by petitioners.
(e) During the years 1975, 1976 and 1977, Ezy
Parks, Inc. and Tumble Down, Inc. each leased numerous
parking lots which they in turn operated and managed
[in] a business whereby cash fees were received from
customers who parked their cars on the parking lots
operated by Ezy Parks, Inc. and Tumble Down, Inc.
(f) Ezy Parks II, Inc. was incorporated on
November 13, 1975 in Pennsylvania and was at all times
wholly owned and controlled by petitioners.
(g) Ezy Parks II, Inc. was also engaged in the
operation and management of parking lots and received
cash fees from customers who parked their cars on these
lots.
(h) Petitioner Leon Spear supervised and managed
the operations of Ezy Parks, Inc., Tumble Down, Inc.
and Ezy Parks II, Inc. during the taxable years 1975,
1976 and 1977.
(i) The parking lots operated and managed by
petitioners through their wholly owned corporations
were businesses in which receipts from customers were
predominantly in cash.
(j) Petitioner Jeannette Spear maintained the
business records and handled the banking transactions
for Ezy Parks, Inc, Tumble Down, Inc. and Ezy Parks II,
Inc. during the taxable years 1975, 1976 and 1977.
* * * * * * *
(continued...)
Page: Previous 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 NextLast modified: May 25, 2011