Phipps v. Commissioner of Internal Revenue

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Full Text of Court Cases
March 23, 1942

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estate and gift taxation
buy-sell agreement, estate tax, fair market value (FMV)
Phipps v. Commissioner of Internal Revenue
127 F.2d 214,1942 U.S. App. LEXIS 3836
US
Federal Court
10th Circuit
United States Court of Appeals
Huxman

Summary

At issue is the valuation of the taxpayer's 10,000 shares of cumulative preferred stock of the Nevada-California Electric Corporation.