T.C. Memo. 1996-152
UNITED STATES TAX COURT
TOWER LOAN OF MISSISSIPPI, INC., Petitioner v.
COMMISSIONER OF INTERNAL REVENUE, Respondent
Docket No. 570-93. Filed March 26, 1996.
Leonard D. Van Slyke, Jr., and Denise F. Schreiber
(specially recognized), for petitioner.
Thomas R. Ascher and Kim A. Palmerino, for respondent.
MEMORANDUM FINDINGS OF FACT AND OPINION
PARR, Judge: Respondent determined deficiencies in
petitioner’s Federal income tax for 1988 and 1989 of $370,317 and
$490,267, respectively.
The issues for decision are: (1) Whether certain commission
income should be reallocated to petitioner from petitioner’s
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