Tax Court Corrects Present Value Factor in Gallagher

Business Valuation UpdateVol. 17 No. 12
Legal and Court Case Update
December 2011

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federal taxation
Gallagher v. Commissioner (II)
T.C. Memo 2011-244; 102 T.C.M. (CCH) 388
October 11, 2011
US
Federal Court
Federal
United States Tax Court
Richard May (taxpayer) and John Thomson (IRS)
Halpern

Summary

Tax Court corrects a previous error in the present value factor used to value an 80% interest in a privately held limited partnership, resulting in a $3.2 million increase in overall value.

See Also

Gallagher v. Commissioner (II)

Full Text of Court Cases
October 11, 2011

Tax Court corrects a previous error in the present value factor used to value an 80% interest in a privately held limited partnership, resulting in a $3.2 million increase in overall value.