Leather Tanning and Finishing
This industry comprises establishments primarily engaged in one or more of the following: (1) tanning, currying, and finishing hides and skins; (2) having others process hides and skins on a contract basis; and (3) dyeing or dressing furs.
Dexsil Corporation (Dexsil II) v. CIR
The U.S. Court of Appeals for the Second Circuit reversed and remanded the Tax Court's decision reducing Dexsil's sec. 162 deduction because it found the CEO's compensation unreasonable. The Second Circuit ruled that the five step Rapco analysis applied ...
Hypothetical Investor Test Used When Determining Reasonable Compensation
The U.S. Court of Appeals for the 2nd Circuit reversed and remanded the Tax Court's decision reducing Dexsil's sec. 162 deduction because it found the CEO's compensation unreasonable.