Buy-Sell Agreements Fail Lauder II Test and Are Considered Testamentary Devices

Business Valuation UpdateVol. 7 No. 9
Legal and Court Case Update
September 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
July 6, 2001
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)


This 336-page estate and gift case deals with a $75,935,883 tax deficiency and $30,328,153 in associated penalties asserted by the IRS.

See Also

Estate of True v. Commissioner