Memorandum Findings of Fact and Opinion
WRIGHT, Judge.
By a statutory notice of deficiency dated July 24, 1985, respondent determined a deficiency in petitioner's Federal income tax in the amount of $406,923.36 for taxable year 1977.
After concessions, the sole issue for our consideration is whether Spendthrift Farm, Inc., qualifies as a subchapter S corporation in taxable year 1977, pursuant to section 1371
Let's get started
Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.
- Updated daily.
- Uncompromising quality.
- Complete, Accurate, Current.