McClatchy v. Commissioner

Full Text of Court Cases
June 26, 1998
2711 Newspapers: Publishing, or Publishing and Printing
511110 Newspaper Publishers
estate and gift taxation

McClatchy v. Commissioner
147 F.3d 1089, 1998 U.S. App. LEXIS 13576
Federal Court
9th Circuit
United States Court of Appeals
Nelson, Tashima, Thoma


At issue is the valuation of decendent's stock in a newspaper corporation for federal estate tax purposes.

See Also

Case Addresses Fine Points of 'Moment of Death' Issue; IRS Concedes 15% Discount of Blockage

The issue before the Court of Appeals was whether Charles K. McClatchy's stock holdings should be valued with the federal securities law restrictions that had been in place before his death or without the restrictions once they were transferred to his estate.

SEC Rule 144 Discount May Be Applied in Estate Tax Valuations

The 9th Circuit reversed the Tax Court's decision denying the estate a discount for SEC Rule 144 restrictions.