5th Circuit Holds LLC and Limited Partnership Transfers Were Bona Fide
In this estate tax case, the 5th Circuit vacated and remanded the district court’s granting of summary judgment to the Commissioner on the grounds that the transfer under IRC §2036 was a bona fide sale for full and adequate consideration.
Kimbell v. US
At issue is the transferral of assets for an interest in partnership (operated by decedent's son) was a "bona fide" sale or not, thus incurring Section 2036 consideration.
Central Bering Sea Fishermen's Association, et al. v. Susan D. Anderson
The Alaska Supreme Court reversed the trial court’s award of lost earnings and struck the jury’s award of lost future earnings in this wrongful termination case.