L.L. BEAN, INC. v. COMMISSIONER

Docket Nos. 16379-94, 16380-94.

73 T.C.M. 2560 (1997)

T.C. Memo. 1997-175

L.L. Bean, Inc. v. Commissioner. L.L. Bean, Inc., Leon Gorman, Tax Matters Person v. Commissioner.

United States Tax Court.

Filed April 9, 1997.


Attorney(s) appearing for the Case

John S. Brown, Boston, Mass., Joseph L. Kociubes, George P. Mair, Donald Bruce Abrams, and Matthew D. Schnall, for the petitioners. Maureen T. O'Brien, Melanie M. Garger, and Barry J. Laterman, for the respondent.


MEMORANDUM FINDINGS OF FACT AND OPINION

RUWE, Judge:

In Docket No. 16379-94, respondent determined a deficiency in L.L. Bean, Inc.'s (hereinafter petitioner) 1986 Federal income tax of $649,428. In Docket No. 16380-94, respondent issued a notice of final S corporation administrative adjustment (FSAA) to Leon Gorman, petitioner's president and tax matters person, setting forth the following disputed adjustments with respect to petitioner's 1987 taxable year...

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