Value of Promissory Note From Sale of Topless Bar Discounted 25%

Business Valuation Update BVLaw
Legal and Court Case Update
March 6, 1997
5813 Drinking Places (Alcoholic Beverages)
722410 Drinking Places (Alcoholic Beverages)
federal taxation

Jeff A. Wiltzius, et al. v. CIR
T.C. Memo. 1997-117
US
Federal Court
United States Tax Court
Jack Shelton <br> Charles Brandon <br>
Colvin

Summary

The Tax Court valued a note the taxpayers received in the distribution of their former business's assets.

See Also

Jeff A. Wiltzius, et al. v. CIR

The Tax Court valued a note received by the taxpayers in the distribution of their former business' assets. They had owned a topless bar. The court determined that the starting point for valuing the note was its face value, which it reduced by 25% for ris ...