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NATIONAL BANCORP OF ALASKA, INC. v. COMMISSIONER

Docket No. 6388-00.

82 T.C.M. 369 (2001)

T.C. Memo. 2001-202

National Bancorp of Alaska, Inc. v. Commissioner.

United States Tax Court.

Filed August 1, 2001.

Attorney(s) appearing for the Case

William H. Hippee, Jr., Irwin L. Treiger, Andrew T. Gardner, Mark Alan Hagar, William Kenneth Wilcox, and Jeffrey A. Sloan, for the petitioner. Jack Forsberg and Reid M. Huey, for the respondent.

MEMORANDUM OPINION

RUWE, Judge.

Respondent determined a deficiency of $216,918 in petitioner's 1996 Federal income tax. After a concession,1 the issue for decision is whether petitioner's deduction for expenses incurred in providing employees with nonbusiness flights on a company-owned airplane is limited by section 2742 to the amount reported as imputed income to the recipient employees.

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