(Download) "Laybourn v. Director of Revenue" by Supreme Court of Kansas # eBook PDF Kindle ePub Free
eBook details
- Title: Laybourn v. Director of Revenue
- Author : Supreme Court of Kansas
- Release Date : January 08, 1969
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 57 KB
Description
The opinion of the court was delivered by This controversy stems from bad debt deductions claimed by the taxpayers, L.A. Laybourn and his wife, but disallowed by the Kansas Director of Revenue. Briefly summarized, the facts reveal that Laybourn incorporated a company known as the Hustler Corporation, Inc., on December 20, 1960. A stock certificate number 1 representing 100 shares of its $100.00 par value common stock was issued to him for the sum of $10,000.00. No further stock was issued from that time on, and Laybourn was at all times the sole owner, president and chief executive officer of the Hustler Corporation, Inc., which elected, for federal tax purposes, to file as a small business corporation.
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