i9 Sports
This industry comprises establishments (except amusement parks and arcades; gambling industries; golf courses and country clubs; skiing facilities; marinas; fitness and recreational sports centers; and bowling centers) primarily engaged in providing recreational and amusement services.
Golf Driving Ranges
This industry comprises establishments (except amusement parks and arcades; gambling industries; golf courses and country clubs; skiing facilities; marinas; fitness and recreational sports centers; and bowling centers) primarily engaged in providing recreational and amusement services.
American Poolplayers Association (APA)
This industry comprises establishments (except amusement parks and arcades; gambling industries; golf courses and country clubs; skiing facilities; marinas; fitness and recreational sports centers; and bowling centers) primarily engaged in providing recreational and amusement services.
Children's Indoor Play Areas
This industry comprises establishments (except amusement parks and arcades; gambling industries; golf courses and country clubs; skiing facilities; marinas; fitness and recreational sports centers; and bowling centers) primarily engaged in providing recreational and amusement services.
Billiards
This industry comprises establishments (except amusement parks and arcades; gambling industries; golf courses and country clubs; skiing facilities; marinas; fitness and recreational sports centers; and bowling centers) primarily engaged in providing recreational and amusement services.
Tax Court (Grudgingly) Allows Tax Affecting Under the SEAM Method
This was a gift tax valuation case the U.S. Tax Court decided. Gifts of minority interests in The Biltmore Co. were made from the its shareholders, the Cecils, to their children and grandchildren. The IRS audited the gift tax returns and assessed deficiencies for reporting too low fair market values of the gifts of The Biltmore Co. stock. Both sides presented experts to value the gifted interests. The experts agreed that the cash flows should be tax affected. The court accepted the tax affecting while allowing that it was not an admission by the Tax Court that tax affecting should apply in all cases. The Tax Court made changes to the values presented and cobbled together a final value that resulted in refunds to the taxpayers/petitioners.
Estate of Cecil v. Comm’r
This was a gift tax valuation case the U.S. Tax Court decided. Gifts of minority interests in The Biltmore Co. were made from the its shareholders, the Cecils, to their children and grandchildren. The IRS audited the gift tax returns and assessed deficiencies for reporting too low fair market values of the gifts of The Biltmore Co. stock. Both sides presented experts to value the gifted interests. The experts agreed that the cash flows should be tax affected. The court accepted the tax affecting while allowing that it was not an admission by the Tax Court that tax affecting should apply in all cases. The Tax Court made changes to the values presented and cobbled together a final value that resulted in refunds to the taxpayers/petitioners.
Lost Profits Calculations Turn on Clear Evidence of Benchmark Lost Revenues
Successful lost profits analysis turns on clear evidence of lost revenue and other key assumptions.
Parties Held to GAAP Valuation Methodology Under Buy-Sell Agreement
An employee sued his former employer, claiming it breached the implied covenant of good faith and fair dealing.
Kenny Maple v. Kevin Wilson, et al.
The Iowa Court of Appeals affirmed the trial court’s decision to deny lost profits in this breach of contract case.
Smith v. Grand Canyon Expeditions Company
Appellant argues that net book value arrived at by Grand Canyon too low despite buy-sell agreement specifying net book value as accepted valuation method.
Christians v. Christians
At issue is the valuation of husband's flying trapeze business.
All assets must be included in net asset method valuation
The Florida District Court of Appeals determined that the trial court erred, in part, in its valuation of husband's business, Flying Trapeze, Inc. The trial court used the net asset method t ...
Ferraro v. Ferraro
At issue is the valuation of husband's development corporation.
Court's valuation based upon evidence upheld on appeal
The trial court valued husband's business at $900,000 and awarded wife one-half of the value, or $450,000.