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TULIA FEEDLOT, INC. v. UNITED STATES

No. 74-1928.

513 F.2d 800 (1975)

TULIA FEEDLOT, INC., Plaintiff-Appellee, v. UNITED STATES of America, Defendant-Appellant.

United States Court of Appeals, Fifth Circuit.

June 2, 1975.

Attorney(s) appearing for the Case

Frank D. McCown, U. S. Atty., Ft. Worth, Tex., Robert B. Wilson, Asst. U. S. Atty., Lubbock, Tex., Louis A. Bradbury, Scott P. Crampton, Asst. Atty. Gen., Ernest J. Brown, Meyer Rothwacks, Chief, App. Sec., U. S. Dept. of Justice, Tax Div., Washington, D. C., Lawrence R. Jones, Jr., William W. Guild, Dept. of Justice, Tax Div., Dallas, Tex., for defendant-appellant.

Clarence P. Brazill, Jr., Lubbock, Tex., for plaintiff-appellee.

Before WISDOM and DYER, Circuit Judges, and KRAFT, District Judge.

WISDOM, Circuit Judge:

Tulia Feedlot, a closely-held Texas business corporation, brought this tax refund suit to recover income taxes and interest totalling $23,798.81, which it paid under protest when the Commissioner of Internal Revenue disallowed its deduction of $54,000 for alleged guarantors' fees that it had paid, pro rata, to its director-shareholders during its tax year ending August 31, 1970. The question this case presents is whether the taxpayer may deduct...

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