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On March 19, 1982, ATV was incorporated in Alabama. ATV
fabricates steel plates into storage and processing tanks,
including pressure vessels, distillation columns, paper mill
digesters, and wind tunnels.
Mr. Cutts founded ATV and has served as its president from
its inception. On ATV’s 1997 return, Mr. Cutts was listed as an
officer who owns 45 percent of ATV’s common stock.
ATV’s business is substantial: It uses the completed-
contract method of accounting; for its fiscal year in issue, it
reported gross sales in excess of $33 million and yearend
retained earnings in excess of $2 million. Mr. Cutts, for his
tax year in issue, received salary of $187,369 from ATV and net
rental income of $66,823 from ATV and three rental houses.
During the 1997 year, ATV’s general office, sales office,
and drafting and engineering activities were located in Landmark
Hall. ATV has another sales office in Houston, Texas, and a
construction facility in Lucedale, Mississippi.
Landmark Hall
On December 30, 1988, Mr. Cutts purchased Landmark Hall.
The Landmark Hall main house (the main house) is approximately
140 years old and has three floors, with 10,500 square feet of
usable space divided approximately equally among them. Landmark
Hall also has a front yard, parking areas beside and behind the
main house, an 800-square-foot swimming pool (the pool) with a
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Last modified: May 25, 2011