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Bernier v. Bernier (I)

Massachusetts Supreme Court applies tax affecting analysis to valuation of subchapter S corporations in divorce.

Tax Court Declines to Tax Affect S Corp in Gift Transfer Case

In a post-Gross decision, the Tax Court considers tax affecting S corp earnings and also discounts for lack of marketability and control.

Dallas v. Commissioner

In a post-Gross decision, the Tax Court considers tax-affecting S Corp earnings and also discounts for lack of marketability and control.

Absent Appearance by Appraiser, Valuation Report Is Hearsay

In an income tax case where the IRS challenges the calculation of net unrealized built-in gain that has been based on a contemporaneous valuation of the assets subject to built-in gain tax, the valuation report by itself constitutes inadmissible hearsay where the preparing appraiser is not available for cross-examination.

Van Der AA Investments, Inc. v. Commissioner

In an income tax case where the IRS challenges the calculation of net unrealized built-in gain that has been based on a contemporaneous valuation of the assets subject to built-in gain tax, the valuation report by itself constitutes inadmissible hearsay w ...

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.

Case Remanded to Trial Court for Failure to Value the Business

The issue in this marital dissolution was whether the trial court erred in failing to value the company and instead splitting the husband’s stock between the parties.

Bernier v. Bernier (2003)

Bernier v. Bernier (2003) US Massachusetts State Court Family Court Kaplan 5411 Grocery Stores 445110 Supermarkets and Other Grocery (except Convenience) Stores ...

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 ...

Olson v. Olson

The issue in this case is the court's award of stock to the spouse rather than valuing the stock and awarding half the value.

No DLOM Absent Extraordinary Circumstances; Bright-Line Rule Prohibiting Built-in Gains Discount Rejected

The issue, in this case of first impression in Washington, was the propriety of discounts for lack of marketability and built-in capital gains in a dissenters' rights proceeding.

Comparing three payout assumptions impact on values of S versus C corps

As the accompanying editorial suggests, whether S corporation interests are worth more than C corporation interests, at least at the minority interest level, depends on several factors. One important ...

Tax Court Chooses Market Approach Over Asset Approach

The issue in this consolidated case involving the Caracci family was whether the value of the Sta-Home Health Agency Inc. (SHHA) and related entities transferred into S corporations exceeded the consideration paid.

Norton Co v. Smyth

The issue, in this case of first impression in Washington, was the propriety of discounts for lack of marketability and built-in capital gains in a dissenters' rights proceeding.

Bright-Line Rule Barring Discounts Is Inappropriate

The Washington Court of Appeals reversed a trial court’s bright-line rule prohibiting discounts for lack of marketability and built-in capital gains taxes when determining fair value in a dissenters’ rights action.

"Highly troubled" by Estate of Adams

I am highly troubled by several recent circumstances. You are familiar with Gross (BV Update has discussed it at length). It is clear to anyone with a modicum of financial background that ...

Caracci v. Commissioner (I)

The issue was whether the value of the Sta-Home Health Agency, Inc. (SHHA) and related entities transferred into S corporations exceeded the consideration paid.

Whether to mark up assets; Whether to tax affect gains

My question is in relation to a divorce case in which the main marital asset is an operating retail business. The business is organized as an S corporation and it possesses appreciated real ...

Tax Court Rejects Use of Single 'Similar' Comparable

This issue in this estate tax matter was the fair market value of decedent's 630 shares (a 39.62% interest) in F. Korbel & Bros. Inc. on Feb. 15, 1995, her date of death.

Heck v. Commissioner

Business Valuation and Taxes: Procedure, Law and Perspective ...

A Gross Result in the Gross Case Calls Into Question Circumstances in Which Tax Affecting Is Valid

Appraisers may soon have to defend their tax affecting in prior S corporation valuations as a result of Gross.

Daubert Issue Rears Its Ugly Head in Gross Case

George Hawkins wrote a guest abstract of this case in the January 2002 issue of Shannon Pratt's Business Valuation Update focusing on the tax affecting issues in the case.

Application of Minority, Marketability Discounts Was Error

In this corporate dissenter's rights action, Lindoe Inc. appealed the trial court's valuation of its stock in Pueblo Bancorporation, a bank holding company.

Gross v. Commissioner (II)

Issues involved tax affecting of the discounted cash flows of the company and the size of the marketability discount.

0% Reduction for Tax Affecting Affirmed

The 6th Circuit affirmed the Tax Court’s valuation of gifted minority interests in a closely held S corporation.

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