Small-Block Sales Not Indicative of FMV; 30% Marketability Discount Applied

Business Valuation Update BVLaw
Legal and Court Case Update
October 14, 1999
5942 Book Stores
451211 Book Stores
estate and gift taxation
estate tax, fair market value (FMV), employee stock ownership plan (ESOP)

Estate of Marmaduke v. Commissioner of Internal Revenue
T.C. Memo 1999-342,1999 Tax Ct. Memo LEXIS 397
US
Federal Court
United States Tax Court
Robert F. Reilly (for estate)<br>Z. Christopher Mercer (for estate)<br>Travis Keath (for IRS)
Swift

Summary

The issue in this estate tax matter was the fair market value on Sept. 7, 1993, of decedent's 366,385 shares of common stock of Hastings Books, Music & Video Inc., a closely held corporation.

See Also

Estate of Marmaduke v. Commissioner of Internal Revenue

At issue is the fair market value, as of the date of decedent's death, of 366,385 shares of common stock of a closely held corporation.