5th Circuit Considered the Valuation of Lottery Payments

Business Valuation Update BVLaw
Legal and Court Case Update
November 13, 2003
estate and gift taxation
estate tax

Estate of Cook v. Commissioner
2003 U. S. App. LEXIS 23126
Federal Court
5th Circuit
United States Court of Appeals


The U.S. Court of Appeals considered whether deviation from the annuity tables in Sec. 7520 was warranted in the valuation of a lottery prize.

See Also

Estate of Cook v. Commissioner

At issue is the classification of a lottery prize issued in annual payments as a private annuity, thereby being valued using annuity tables (by the Tax Court) and thus without discounts.