Tax Court Applies 40% Combined Discount to Arrive at Fair Market Value

Business Valuation UpdateVol. 4 No. 6
Legal and Court Case Update
June 1998
5812 Eating and Drinking Places
722513 Limited-Service Restaurants
estate and gift taxation

Estate of Furman v. Commissioner
T.C. Memo 1998-157
April 30, 1998
Federal Court
United States Tax Court


Before the Tax Court, for purposes of determining the taxable gifts of Royal G. Furman, and the taxable gifts and taxable estate of Maude G. Furman, is the determination of the fair market value of shares in Furman's Inc. (FIC), a closely held company.

See Also

Estate of Furman v. Commissioner

Business Valuation and Taxes: Procedure, Law and Perspective ...