Recyclable Material Merchant Wholesalers
This industry comprises establishments primarily engaged in the merchant wholesale distribution of automotive scrap, industrial scrap, and other recyclable materials. Included in this industry are auto wreckers primarily engaged in dismantling motor vehicles for the purpose of wholesaling scrap.
San Bernardino Cty. Trans. Auth. v. Byun
In eminent domain case, appeals court says trial court’s exclusion of defendants’ valuation expert was justified where expert simply adopted another expert’s valuation without testing the raw financial data and being able to substantiate the other expert’s assumptions and conclusions.
‘Wholesale’ Adoption of Another’s Valuation Makes Expert Testimony Worthless
In eminent domain case, appeals court says trial court’s exclusion of defendants’ valuation expert was justified where expert simply adopted another expert’s valuation without testing the raw financial data and being able to substantiate the other expert’s assumptions and conclusions.
Wright v. Phillips
In fair value determination analogous to statutory appraisal valuation, Chancery says companies’ S corp status “has discrete value applicable here,” as captured in expert’s use of 14.5% tax rate (as opposed to 31%); court approves marketability discount.
S Corp Status Adds ‘Discrete’ Value to Business, Chancery Says
In fair value determination analogous to statutory appraisal valuation, Chancery says companies’ S corp status “has discrete value applicable here,” as captured in expert’s use of 14.5% tax rate (as opposed to 31%); court approves marketability discount.
McNee v. McNee
Trial court did not err in classifying owner-spouse’s personal loan to his business during marriage as a marital asset, appeals court finds; loan could be seen as an increase in value of owner’s business or a debt owed to parties, appeals court says.
Different Theories Justify Classifying Loan to Business as Marital Asset
Trial court did not err in classifying owner-spouse’s personal loan to his business during marriage as a marital asset, appeals court finds; loan could be seen as an increase in value of owner’s business or a debt owed to parties, appeals court says.
Expert Overcomes Three Objections Before Comps Are Ruled Admitted
Nebraska Supreme Court affirms admission of expert lost profits calculations that relied on comparable companies owned by defendant.
Gary’s Implement, Inc. v. Bridgeport Tractor Parts
Nebraska Supreme Court affirms admission of expert lost profits calculations that relied on comparable companies owned by defendant.
Thompson v. United States
At issue is the admittance of expert testimony.
Reliance on Expert Upheld
Plaintiff invested in Davenport Recycling Associates limited partnership, which turned out to be (without plaintiff's knowledge at the time) a sham transaction.
Mad Auto Wrecking, Inc. v. CIR
The Tax Court considered a list of fourteen factors in determining whether compensation to a business owner was reasonable and thus deductible under IRC sec. 162. The factors included employee compensation, scope of employee's work, comparison to salaries ...
In re Marriage of Barnett
Appeals court says awarding wife a lien on business and maintenance represents double recovery where owner was liquidating business and would make maintenance payments from his share of the distributed asset rather than future income derived the asset.