Small Blockage Discount Supported by Post-Valuation Date Sales

Business Valuation Update BVLaw
Legal and Court Case Update
February 5, 1999

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3492 Fluid Power Valves and Hose Fittings
332912 Fluid Power Valve and Hose Fitting Manufacturing
estate and gift taxation
Estate of Foote v. Commissioner of Internal Revenue
T.C. Memo 1999-37,1999 Tax Ct. Memo LEXIS 37
US
Federal Court
United States Tax Court
Robert E. Kleeman, Jr., CPA (for estate), Robert L. Davis, CFA (for IRS)
Jacobs

Summary

The Tax Court permitted a blockage discount of 3.3% on the decedent's 2.2% interest in a NYSE stock.

See Also

Estate of Foote v. Commissioner of Internal Revenue

Full Text of Court Cases
February 5, 1999

At issue is the fair market value of 280,507 shares of Applied Power, Inc. class A common stock held by the decedent.