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during the years in issue. The other shareholders are Virginia
Haynes--wife of Herbert C. Haynes, Sr. --and Herbert C. Haynes,
Jr., Ginger Haynes Maxwell, and Barbara Haynes French, children
of Herbert C. Haynes, Sr. Herbert C. Haynes, Jr., is the vice
president of petitioner. He holds a degree in forestry. Ginger
Haynes Maxwell is the secretary-clerk of petitioner. Virginia
Haynes is the treasurer of petitioner.
During the years in issue, petitioner employed approximately
60 employees. Herbert C. Haynes, Sr., and his three children are
full-time employees of petitioner. Three employees of petitioner
hold degrees in forestry. Petitioner employed log purchasers,
truck drivers, mechanics, bulldozer operators, excavators, and
office staff.
Petitioner’s Woodland Ownership
During the years at issue, petitioner owned at least 26,000
acres of woodland in Maine. Additionally, Herbert C. Haynes,
Sr., individually owned approximately 13,000 acres of woodland in
Maine. Lakeville Shores, Inc., a corporation owned 100 percent
by Haynes children, and Five Islands Land Co., a corporation
owned 100 percent by Herbert C. Haynes, Sr., also owned woodland
in Maine.3 Petitioner maintains that its shareholders and the
corporations owned by petitioner and by petitioner’s shareholders
3 Haynes Oil Co. is a fully owned subsidiary of petitioner.
Winn Logging, Inc., is a corporation owned by the Haynes
children. These corporations do not own woodland.
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Last modified: May 25, 2011