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Minority interest not the same as lack of control

Your article titled "Assignee’s interest in partnership may require discounting" in the November issue on page 6 uses a term incorrectly. The business valuation profession is trying to stop ...

Keath responds to judge's opinion in Smith

For obvious reasons, I was disappointed by Judge Gale’s opinion in Estate of Smith v. Commissioner . For perhaps less obvious reasons, however, the opinion caused me some concern. Few ...

Is "bottom-up" method acceptable in valuing minority interests?

Is "bottom-up" method acceptable in valuing minority interests? I just did a presentation to a large law firm. A senior partner in the firm took issue with the "bottom ...

Matthews critiques Mercer's Simplot case review

In his review of Estate of Richard R. Simplot v. Commissioner , 112 T.C. No. 13 (1999), Chris Mercer missed the principal point of the decision. The key issue was whether the premium for v ...

Minnesota Supreme Court affirms that passive appreciation in nonmarital property is nonmarital

Earnings retained in wife’s AAA were not income because they might never be distributed, nor were the earnings active appreciation.

Valuation disregarding restrictive stock agreement upheld on appeal

A major issue in this marital dissolution was the valuation of husband’s 200 shares of stock in Pella Windows & Doors Inc.

In re the Marriage of Gottsacker

Whether an Accumulated Adjustment Account (AAA) in a subchapter S corporation in which one spouse has a nonmarital interest is marital property depends on the degree of ownership and control ...

Missala Marine Services, Inc. v. Jenny Kay Odom

The Supreme Court of Mississippi affirmed a jury’s award of compensatory and punitive damages.

Irby v. Irby

The major issue at the November 2000 trial was the valuation of husband's stock in Pella Windows & Doors Inc. and the effect of a restrictive stock agreement on the value.

Court Judges Assessment of Risk Factors, Marketability Discount Evidence

The issue in this consolidated case was the fair market value of two minority nonvoting stock interests in Schwan's Sales Enterprises Inc. (SSE), one as of Dec. 31, 1992 (date of gift) and the other as of Dec. 31, 1994 (date of charitable contribution).

Audio conference held on tax-affecting S corp earnings

As announced in this column last month, on August 13 an audio conference was held on tax-affecting S corporation earnings for the purpose of valuing stock. Bajaj: It is incorrect to tax-affect ...

Audio conference held on tax-affecting S corp earnings

As announced in this column last month, on August 13 an audio conference was held on tax-affecting S corporation earnings for the purpose of valuing stock. Bajaj: It is incorrect to tax-affect ...

Okerlund v. United States (I)

The issue in this consolidated case was the fair market value of two minority nonvoting stock interests in Schwan's Sales Enterprises, Inc.

Private stock as collateral

Congratulations on another wonderful book, Business Valuation Discounts and Premiums. As I was reading the book, it occurred to me to ask my son-in-law what his bank would loan to a pr ...

Shareholder agreement restrictions support 30% marketability discounts

The wife appealed a judgment from the trial court that valued husband's minority interest in a closely held corporation in a dissolution of marriage. Wife challenged the trial court's qualif ...

Poorly researched valuation results in nominal value finding by court

Wife challenged the property division in a dissolution of marriage decree, arguing that the court erred in valuing the husband's interest in a family business at zero.

Mississippi Supreme Court Upholds Rejection of Minority and Marketability Discounts

This case came to the Mississippi Supreme Court on appeal from the Court of Chancery.

Cerretani v. Cerretani

Wife challenged the trial court's qualification of husband's witness as an expert witness and discounting husband's interest by 30%.

In re the Marriage of Peters

Wife argued that the court erred in valuing the husband's interest in a family business at zero.

Richton Bank & Trust Co. v. Bowen

The issue was whether the chancellor erred in eliminating discounts for lack of marketability and minority status from his determination of fair value.

Conti v. Christoff

At issue is whether the trial court was required to use a valuation method based solely upon the raw assets of the partnership, or whether the court could order further factfinding based on a different valuation method.

Fair Cash Value Not Error in Valuation of Partnership Interest

This case was on appeal from a magistrate's findings and the trial court's rulings regarding valuation of a 25% limited partnership interest.

Simplot Reversed by 9th Circuit; Control Premium for Voting Shares Incorrectly Applied

This case is the 9th Circuit Court of Appeals' decision on appeal of Estate of Simplot v. Commissioner, 112 T.C. No.13 (1999), which was abstracted in the May 1999 issue of Shannon Pratt's Business Valuation Update.

How to treat non-operating assets

Treatment of Non-operating Assets With a focus on Excess Working Capital , Kenneth W. Patton, Business Appraisal Practice , Winter 2000-2001, pp.41-47. This article focuses on identifying non ...

A lawyer's guide to asset-based approaches to business valuation

Generally, asset-based approaches to valuation deal with a simplified view of the net assets and liabilities of a corporation. Fair market value is determined under asset-based approaches by using the ...

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