Tax Court Holds Sales Transactions Not Indicative of FMV

Business Valuation UpdateVol. 5 No. 11
Legal and Court Case Update
November 1999

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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
October 14, 1999
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

This 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.

See Also

Estate of Marmaduke v. Commissioner of Internal Revenue

Full Text of Court Cases
October 14, 1999

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.