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in TYE 1998 were family members. From its incorporation in 1973
through and including TYE 1998, Menards had never paid a
dividend. Petitioners have failed to convince us that a finding
of bad faith is required before we can decide that a portion of
Mr. Menard’s compensation was not paid purely for his services as
CEO.
III. Conclusion
For the above-described reasons, we shall deny petitioners’
motion for reconsideration.
An appropriate order
denying petitioners’ motion
for reconsideration will be
issued.
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