Benton County Hardware Co. v. Commissioner
This text of 10 B.T.A. 869 (Benton County Hardware Co. v. Commissioner) is published on Counsel Stack Legal Research, covering United States Board of Tax Appeals primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Opinion
[871]*871OPINION.
After a careful consideration of all the evidence adduced by the parties, we find that the salaries in question were authorized in January of the taxable year; that they were reasonable compensation for the services rendered by the several executives. Though not fully paid in the taxable year, they were liabilities for such year because the petitioner was on the accrual basis of accounting. The amounts disallowed by the respondent, in the total of $13,600, should be deducted from the petitioner’s gross income for the taxable year and- tax liability recomputed on the basis of the total. salaries authorized.
Judgment will be entered on 10 days1 notice, under Rule 50.
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Cite This Page — Counsel Stack
10 B.T.A. 869, 1928 BTA LEXIS 4023, Counsel Stack Legal Research, https://law.counselstack.com/opinion/benton-county-hardware-co-v-commissioner-bta-1928.