T.C. Memo. 2007-305
UNITED STATES TAX COURT
UNIVERSAL MARKETING, INC., Petitioner v.
COMMISSIONER OF INTERNAL REVENUE, Respondent
Docket No. 8744-02. Filed October 9, 2007.
Daniel L. Reeves (officer), for petitioner.
Wesley F. McNamara, for respondent.
MEMORANDUM FINDINGS OF FACT AND OPINION
HAINES, Judge: Respondent determined a deficiency in
petitioner’s Federal corporate income tax of $170,674 for the
fiscal year ending (FYE) May 31, 1996.
The issues for decision are: (1) Whether the amounts paid
to petitioner’s sole executive and shareholder constituted
reasonable compensation pursuant to section 162(a)(1); and
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Last modified: November 10, 2007