Optometry Practices
This industry comprises establishments of health practitioners having the degree of O.D. (Doctor of Optometry) primarily engaged in the independent practice of optometry. These practitioners examine, diagnose, treat, and manage diseases and disorders of the visual system, the eye, and associated structures as well as diagnose related systemic conditions. Offices of optometrists prescribe and/or provide eyeglasses, contact lenses, low vision aids, and vision therapy. They operate private or group practices in their own offices (e.g., centers, clinics) or in the facilities of others, such as hospitals or HMO medical centers, and may also provide the same services as opticians, such as selling and fitting prescription eyeglasses and contact lenses.
Home Health Care Rental
This U.S. industry comprises establishments primarily engaged in renting home-type health and invalid equipment, such as wheel chairs, hospital beds, oxygen tanks, walkers, and crutches.
Hearing Aid Clinics
This industry comprises establishments of independent health practitioners primarily engaged in one of the following: (1) providing physical therapy services to patients who have impairments, functional limitations, disabilities, or changes in physical functions and health status resulting from injury, disease or other causes, or who require prevention, wellness or fitness services; (2) planning and administering educational, recreational, and social activities designed to help patients or individuals with disabilities regain physical or mental functioning or adapt to their disabilities; and (3) diagnosing and treating speech, language, or hearing problems. These practitioners operate private or group practices in their own offices (e.g., centers, clinics) or in the facilities of others, such as hospitals or HMO medical centers.
Picture Framing Stores
This U.S. industry comprises establishments primarily engaged in retailing new home furnishings (except floor coverings, furniture, and window treatments).
Pet Stores
This industry comprises establishments primarily engaged in retailing pets, pet foods, and pet supplies.
Art Supplies
This U.S. industry comprises establishments primarily engaged in retailing specialized lines of merchandise (except motor vehicle and parts dealers; furniture and home furnishings stores; electronic and appliance stores; building material and garden equipment and supplies dealers; food and beverage stores; health and personal care stores; gasoline stations; clothing and clothing accessories stores; sporting goods, hobby, book and music stores; general merchandise stores; florists; office supplies, stationery and gift stores; used merchandise stores; pet and pet supplies stores; art dealers; manufactured home (i.e., mobile homes) dealers; and tobacco stores). This industry also includes establishments primarily engaged in retailing a general line of new and used merchandise on an auction basis.
Art Galleries and Dealers
This industry comprises establishments primarily engaged in retailing original and limited edition art works created by others. Included in this industry are establishments primarily engaged in displaying works of art for retail sale in art galleries.
Wireless Communications
This U.S. industry comprises establishments primarily engaged in operating and maintaining switching and transmission facilities to provide communications via the airwaves. Establishments in this industry have spectrum licenses and provide services using that spectrum, such as cellular phone services, paging services, wireless Internet access, and wireless video services.
Biton v. Kreinis
In dispute over fair value of plaintiff’s shares, court agrees with parties’ experts on use of capitalization of earnings method to value company; court rejects defense expert’s use of QuickBooks data and post-valuation-date revenue as representative annual revenue; applies key-person discount.
In Fair Value Determination, Court Says SSVS Discourages Use of Post-Valuation-Date Data
In dispute over fair value of plaintiff’s shares, court agrees with parties’ experts on use of capitalization of earnings method to value company; court rejects defense expert’s use of QuickBooks data and post-valuation-date revenue as representative annual revenue; applies key-person discount.
Eurochem North America Corp. v. Ganske
Court finds proposed expert testimony inadmissible under Rule 702 and Daubert where expert did not himself prepare the value determination, conceded any estimate of value by his firm was prepared for marketing purposes, and where damages model that expert testimony supported was fatally flawed.
Lack of Valuation Credentials Does Not Disqualify Expert, but Failure to Perform Valuation Does, Court Finds
Court finds proposed expert testimony inadmissible under Rule 702 and Daubert where expert did not himself prepare the value determination, conceded any estimate of value by his firm was prepared for marketing purposes, and where damages model that expert testimony supported was fatally flawed.
Stocker v. Stocker
Trial court did not err in adopting income-based valuation offered by husband’s expert; appeals court calls husband’s attack on his own expert “counterintuitive” where expert explained the value of the company was in its cash flow rather than its assets.
Court Rebuffs Litigant’s Attack on Own Expert’s Income-Based Valuation
Trial court did not err in adopting income-based valuation offered by husband’s expert; appeals court calls husband’s attack on his own expert “counterintuitive” where expert explained the value of the company was in its cash flow rather than its assets.
‘Fanciful’ Projections Make DCF an Unreliable Tool in Appraisal Proceeding
In statutory appraisal, Chancery decides to “defer” to deal price, citing a robust sales process and well-functioning market; petitioners’ DCF analysis was not a useful valuation tool where it was based on, “at best, fanciful” management projections.
In re PetSmart, Inc.
In statutory appraisal, Chancery decides to “defer” to deal price, citing a robust sales process and well-functioning market; petitioners’ DCF analysis was not a useful valuation tool where it was based on, “at best, fanciful” management projections.
‘Fanciful’ Projections Make DCF an Unreliable Tool in Appraisal Proceeding
In statutory appraisal, Chancery decides to “defer” to deal price, citing a robust sales process and well-functioning market; petitioners’ DCF analysis was not a useful valuation tool where it was based on, “at best, fanciful” management projections.
9th Circuit Follows Up on Value of Fractional Interest in Major Art Collection
9th Circuit rejects estate’s appeal of 5% discount for a 50% undivided fractional interest in art collection, based on insufficient appraisal evidence to carry the taxpayer’s burden of proof to show that IRS assessment was wrong.
Stone v. U.S. (II)
Ninth Circuit rejects estate’s appeal of 5% discount for a 50% undivided fractional interest in art collection, based on insufficient appraisal evidence to carry the taxpayer’s burden of proof to show that IRS assessment was wrong.
Parties Unable to Settle Discount for Fractional Interest in Artwork
Finding that the estate failed to carry its burden to prove support for 35% discount in fractional (50%) interest in art, the court confirms IRS 5% discount.
Do BV Methods Apply to Determining Discount for Fractional Interest in Art?
Court considers limits to business valuation “science” for determination of discounted value of fractional interest in art.
Stone v. United States
Finding that the estate failed to carry its burden to prove support for 35% discount in fractional (50%) interest in art, the Court confirms IRS 5% discount.
Stone v. U.S. (I)
Court considers limits to business valuation “science” for determination of discounted value of fractional interest in art.
Janis v Commissioner
Sidney Janis owned and operated a well-known art gallery in New York City. In 1988, he transferred ownership of the gallery to a trust, naming himself and his sons, Conrad and Carroll, trustees. Sidney Janis died a year later, leaving Conrad and Carroll ...
In re the Marriage of Tesoriero
This is a marital dissolution proceeding in which a wife challenges an order for the sale of a community asset and various other portions of the judgment. We reject most of her claims of error, modify the judgment and, as modified, affirm.