Court Rejects Adjusting Cap Rate Earnings to Apply to S Corporation

Business Valuation UpdateVol. 8 No. 5
Legal and Court Case Update
May 2002
6411 Insurance Agents, Brokers, and Service
524210 Insurance Agencies and Brokerages
estate and gift taxation

Adams v. Commissioner
T.C. Memo 2002-80, 2002 Tax Ct. Memo LEXIS 84
March 28, 2002
Federal Court
United States Tax Court
James E. Gray (for defense)<br>Steven Webster (for defense)


The issue in this estate tax matter is the fair market value of decedent William G. Adams Jr.'s 178 shares of voting common stock (a 61.59% interest) of Waddell Sluder Adams & Co., Inc. (WSA), an insurance agency that operated as an S corporation.

See Also

Adams v. Commissioner

Business Valuation and Taxes: Procedure, Law and Perspective ...