Gift Tax Case Suggests Overall Acceptance of S Corp Tax Affecting
In gift tax case requiring valuation of minority shares in S corporation, district court accepts application, by all experts, of C corp-level tax rate to company’s earnings; court, with minor DLOM adjustment, credits valuations by taxpayers’ expert, noting his market approach is “the most sound.”
Kress v. United States
In gift tax case requiring valuation of minority shares in S corporation, district court accepts application, by all experts, of C corp-level tax rate to company’s earnings; court, with minor DLOM adjustment, credits valuations by taxpayers’ expert, noting his market approach is “the most sound.”
Purchase price included net proceeds from life insurance policies
Douglas DeRycke was an employee shareholder of Buckeye Corrugated, Inc. (BCI), owning 108,000 shares of BCI stock.
Buckeye Corrugated, Inc. v. Derycke
Trial court erred by allowing BCI to reinterpret contract language to mean proceeds from additional insurance policies (of decedent) would be distributed amongst shareholders.
Application of Discounts in Valuing Usurpation Claim Was Error
This litigation involves two closely held corporations and one partnership.
Powell v. Anderson (I)
At issue is the valuation of appellant's interest in the defendant's paper box manufacturing company.