Court Rejects Discounted Cash Flow Model in Highly Leveraged Company

Business Valuation UpdateVol. 3 No. 6
Legal and Court Case Update
June 1997
5734 Computer and Computer Software Stores
443142 Electronics Stores
federal taxation
discounted cash flow (DCF), income tax

Morton v. Commissioner
T.C. Memo 1997-166, 1997 Tax Ct. Memo LEXIS 184
April 1, 1997
Federal Court
United States Tax Court
Robert Conklin (for taxpayers)<br>David N. Fuller (for IRS)


At issue is the fair market value of Soft Warehouse Inc. (SWI) stock a key employee purchased on June 30, 1989.

See Also

Morton v. Commissioner

At issue is fair market value of the capital stock of Soft Warehouse, Inc.