Von Euw & L.J. Nunes Trucking, Inc. - Page 2

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          receipts and disbursements method (cash method) to the accrual              
                                  FINDINGS OF FACT                                    
               The parties submitted this case fully stipulated pursuant to           
          Rule 122.2  The stipulation of facts and the attached exhibits              
          are incorporated herein by reference.  At the time the petition             
          was filed, petitioner’s principal place of business was in                  
          Fremont, California.                                                        
               Petitioner, a California corporation, acquires and                     
          transports sand and gravel for its customers, various contractors           
          and developers operating in Northern and Central California.3               
          Petitioner’s customers use the sand and gravel to construct                 
          foundations for streets, houses, and buildings (construction                
          projects).  Most of petitioner’s customers depend on petitioner             
          to both acquire and transport the sand and gravel from storage              
          sites to the customers’ construction sites.  Some of petitioner’s           
          customers own or acquire the sand and gravel necessary to                   
          complete their construction projects without petitioner’s                   

               1  In the notice of deficiency, respondent reduced                     
          petitioner’s depreciation, truck, and advertising & promotion               
          deductions by $28,027, which petitioner does not contest in its             
               2  All section references are to the Internal Revenue Code             
          in effect for the year in issue, and all Rule references are to             
          the Tax Court Rules of Practice and Procedure.                              
               3  The phrase “sand and gravel” refers to both “sand and               
          gravel” and “sand or gravel”.                                               

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