- 4 - During those years, no corporate bylaws for Native Skies, Inc., and no minutes of any meetings of Native Skies, Inc., existed. During 1996 and 1997, Native Skies, Inc., did not file an annual registration form with the Secretary of State and was not in good standing in the State of Minnesota.4 Native Skies, Inc., did not file any Federal income tax return, any Federal employment tax return, or any information return with the Internal Revenue Service for any of the years at issue. Nor did Native Skies, Inc., issue any Form W-2 or any Form 1099 for any of those years. During each of the years at issue, petitioner maintained a business bank account in the name of Native Skies, Inc., at First National Bank of the Lakes (petitioner’s corporate business bank account). During each such year, petitioner deposited into petitioner’s corporate business bank account business receipts from petitioner’s sole proprietorship and withdrew from that account funds to pay expenses associated with petitioner’s sole proprietorship. During each of the years at issue, petitioner and his spouse maintained two personal joint bank accounts at First National Bank of the Lakes (petitioner’s personal bank accounts). During each month of each of the years at issue, between $3,000 and 4The deemed admissions and matters deemed stipulated indi- cate that during 1995 Native Skies, Inc., did not file an annual registration form with the Secretary of State and was not in good standing in the State of Minn. Respondent acknowledges that that deemed admission and deemed stipulation is not accurate.Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 Next
Last modified: May 25, 2011