No Goodwill Distributed in Liquidation

Business Valuation Update BVLaw
Legal and Court Case Update
May 5, 1944
6399 Insurance Carriers, NEC
524128 Other Direct Insurance (except Life, Health, and Medical) Carriers
federal taxation

D. K. MacDonald v. CIR
3 T.C. 720
US
Federal Court
United States Tax Court
Disney

Summary

The Tax Court concluded that an insurance agent did not received any goodwill in the liquidation of his insurance corporation.

See Also

D. K. MacDonald v. CIR

The Tax Court concluded that an insurance agent did not received any goodwill in the liquidation of his insurance corporation. It found that the goodwill was the personal property of the agent absent a non-compete agreement.