Buy-Sell Agreements Do Not Control for Estate Tax Purposes

Business Valuation Update BVLaw
Legal and Court Case Update
July 6, 2001
2911 Petroleum Refining
324110 Petroleum Refineries
estate and gift taxation
buy-sell agreement, pre-IPO study, restricted stock study, estate tax, fair market value (FMV), gift tax, net asset value approach (NAV), swing vote

Estate of True v. Commissioner
T.C. Memo 2001-167, 2001 Tax Ct. Memo LEXIS 199
Federal Court
United States Tax Court
John H. Lax, ASA, CMA (for estate)<br>Curtis R. Kimball, ASA, CFA (for estate)<br>John B. Gustavson, AIMA (for IRS)


The Tax Court considered whether buy-sell agreements controlled the value of the business interests the decedent held for estate and gift tax purposes.

See Also

Estate of True v. Commissioner