Safe Harbor Interest Rate Does Not Apply When Valuing a Note for the Gift Tax

Business Valuation Update BVLaw
Legal and Court Case Update
February 23, 1999
3812 Search, Detection, Navigation, Guidance, Aeronautical, and Nautical Systems and Instruments
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estate and gift taxation

Henry E. Lundquist v. United States
83 AFTR2d Par. 99-568 (ND NY 1999)
US
Federal Court
New York
United States District Court
Kahn

Summary

The U.S. District Court for the Northern District of New York granted summary judgement to the IRS and against the taxpayer.

See Also

Henry E. Lundquist v. United States

The U.S. District Court for the Northern District of New York granted summary judgement to the IRS and against the taxpayer. The IRS determiend that a stock for note transaction was made for less than adequate compensation because, in part, the interest ...