- 26 - Constr. Co. v. Commissioner, supra, and Comtec Sys., Inc. v. Commissioner, supra, also provided evidence comparing the compensation at issue with that paid by similar companies. There is no such evidence here. In BOCA Constr., Inc. v. Commissioner, supra, and RAPCO, Inc., v. Commissioner, supra, the taxpayer applied a longstanding bonus formula or compensation plan. There is no similar formula or plan in this case. In Comtec Sys., Inc. v. Commissioner, supra, the taxpayer provided evidence which compared the compensation at issue with compensation in a similar company. There is no similar evidence here. Petitioner contends that this case is similar to Mortex Manufacturing Co. v. Commissioner, T.C. Memo. 1994-110. In that case, we found that it was important that the company had a longstanding compensation plan for its officer-stockholders that was well within industry norms. Petitioner did not make this showing. The taxpayer in Mortex provided evidence comparing the compensation at issue to various published surveys. Petitioner has submitted no such evidence. Petitioner cites Universal Manufacturing Co. v. Commissioner, T.C. Memo. 1994-367, to show that Mr. Cummings' compensation from Dacor and Kadac was reasonable because it was 2.35 percent of net sales. Universal Manufacturing Co. v. Commissioner, supra, is similar to BOCA Constr., Inc. v.Page: Previous 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 Next
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