Tax Court Declines to Tax Affect S Corp in Gift Transfer Case

Business Valuation UpdateVol. 12 No. 11
Legal and Court Case Update
November 2006

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2819 Industrial Inorganic Chemicals, NEC
325180 Other Basic Inorganic Chemical Manufacturing
estate and gift taxation
discount for lack of control (DLOC), discount for lack of marketability (DLOM), s corporation
Dallas v. Commissioner
T.C. Memo 2006-212; 2006 Tax Ct. Memo LEXIS 216
September 28, 2006
US
Federal Court
United States Tax Court
Brian E. Derdowski Jr., John M. Elias, Laura Lavie, Peter J. Ulrich, Rita M. Danylchuk, Wendy D. Gardner
Scott Nammacher, Robert Oliver, Joseph Hassan (taxpayer); T. Scott Vandervliet, Joseph G. Kettell (IRS)
Colvin

Summary

In a post-Gross decision, the Tax Court considers tax affecting S corp earnings and also discounts for lack of marketability and control.

See Also

Dallas v. Commissioner

Full Text of Court Cases
September 28, 2006

In a post-Gross decision, the Tax Court considers tax-affecting S Corp earnings and also discounts for lack of marketability and control.