Estate of Korby v. Commissioner of Internal Revenue

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December 8, 2006

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estate and gift taxation
Estate of Korby v. Commissioner of Internal Revenue
2006 U.S. App. LEXIS 30087
US
Federal Court
8th Circuit
United States Court of Appeals
none
Bye

Summary

Tax Court includes asset of Family Limited Partnership (FLP) in estate, as FLP had no legitimate business purpose, other than tax avoidance.
Estate of Korby v. Commissioner of Internal Revenue
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See Also

Another FLP Deduction Disallowed for Lack of Viable Business Purpose

Legal and Court Case Update
February 2007

Tax Court includes asset of family limited partnership (FLP) in estate, as FLP had no legitimate business purpose, other than tax avoidance.