Damages Must Be Tied to the Facts
The 5th Circuit Court of Appeals reversed and remanded the award of lost profits and compensatory damages stemming from Liqui-Box's defective products.
Great Pines Water Co., Inc. v. Liqui-Box Corporation
The Fifth Circuit Court of Appeals reversed and remanded the award of lost profits and compensatory damages stemming from Liqui-Box's defective products. Great Pines utilized Liqui-Box's defective capping system in its bottled water business. Great Pine ...
Not Necessary to Tax Affect Pepsi Bottler S Corp Earnings
Petitioners in this case were gifted a total of 373.5 shares of common stock out of 19,680 outstanding shares in G&J Pepsi-Cola Bottlers Inc. (an S corporation) from their parents, and each filed a Form 709 (United States Gift and Generation Skipping Transfer Tax Return) in a timely manner.
Gross v. Commissioner (I)
Business Valuation and Taxes: Procedure, Law and Perspective ...
Estate of Mary D. Maggos (Maggos I) v. CIR
The Tax Court rejected taxpayer's motion for summary judgment on gift tax liability resulting from a redemption of a majority interest in a corporation's stock. The transaction left the decedent's son as the sole shareholder of the corporation. The IRS d ...
Independent Appraisal Needed to Overcome Presumption of Donative Intent
The Tax Court rejected taxpayer's motion for summary judgment on gift tax liability resulting from a redemption of a majority interest in a corporation's stock.
Estate of Bruce v. Commissioner
Issue is whether, as a result of sale and redemption of stock of closely held corporation, Shirley A. Bruce made a taxable gift to her son and daughter-in-law, and if so, in what amount.
In re Marriage of Jorgensen
One issue was the value of husband's 450 shares Great Falls Coca Cola Bottling Co. that he received as a gift.