| 1 | 5/7/1997 | BVLaw |
Kohlsaat v. Commissioner
At issue is whether, in the computation of petitioner's Federal estate tax, decedent's inter vivos transfer of property to an irrevocable trust is eligible under section 2503(b) for the annual gift tax exclusion.
United States Tax Court US, Action: Estate and Gift Taxation
Full Text of Court Cases (1,314 words)
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| 2 | 5/26/2000 | BVLaw |
Annual Exclusion May Not Be Applied to the Forgiveness of Corporate Debt
The Seventh Circuit affirmed the district court's finding that the forgiveness of corporate debt is not a gift of a present interest to the corporation's shareholder, and, therefore, the annual gift tax exclusion could not be claimed. It additionally agr...
Court Case Digests (482 words)
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| 2 | 7/28/1997 | BVLaw |
Transfer of property's qualification for gift exclusion at issue
At issue is whether or not the transfer of property in an irrevocable trust is eligible under section 2503(b) for the annual $10,000 gift exclusion with respect to each of 16 contingent bene...
United States Tax Court
Court Case Digests (99 words)
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| 4 | 5/11/1994 | BVLaw |
Estate of Simpson v. Commissioner
At issue is the valuation of stock for gift tax purposes.
United States Tax Court US, Action: Estate and Gift Taxation
Full Text of Court Cases (13,854 words)
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| 5 | 3/27/2002 | BVLaw |
Hackl v. Commissioner
The issue was whether the gifts were present interests or future interests under Section 2503(b) of the tax code.
United States Tax Court US, Action: Estate and Gift Taxation
Full Text of Court Cases (7,799 words)
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| 6 | 10/26/2000 | BVLaw |
Shepherd v. Commissioner
At issue is the fair market value of petitioner's transferred real estate interests.
United States Tax Court US, Action: Estate and Gift Taxation
Full Text of Court Cases (16,594 words)
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| 7 | 3/27/2002 | BVLaw |
Gifts of Future Interest Do Not Qualify for Sec. 2503(b) Exclusion
The full Tax Court considered whether gifted LLC units subject to a restrictive operating agreement were gifts of a present or future interest in the gifted property for the purposes of the annual gift tax exclusion. The court found that the restriction o...
Court Case Digests (443 words)
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| 8 | 4/30/1998 | BVLaw |
Estate of Furman v. Commissioner
Business Valuation and Taxes: Procedure, Law and Perspective...
United States Tax Court US, Action: Estate and Gift Taxation
Full Text of Court Cases (12,910 words)
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| 9 | 1/25/2005 | BVLaw |
Testimony from Subject Company’s ESOP Appraiser Excluded
The Ohio Court of Appeals, Eighth District affirmed a trial court’s decision to strike the testimony of a valuation witness, who performed the annual valuation for the subject company’s ESOP. It determined that the testimony could have been excluded under...
Court Case Digests (302 words)
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| 10 | 10/2/1998 | BVLaw |
Gift Tax Assessed on Cancellation of Indebtedness
The district court found that forgiveness of corporate debt was not a gift of a present interest to the corporation's shareholder, and, therefore, the annual gift tax exclusion could not be claimed by the donor. It additionally agreed that the gift is va...
Court Case Digests (322 words)
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| 10 | 6/29/1967 | BVLaw |
Messing v. Commissioner
At issue is the valuation of stock gifted by the petitioner.
United States Tax Court US, Action: Estate and Gift Taxation
Full Text of Court Cases (5,568 words)
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| 12 | 6/17/2002 | BVLaw |
Estate of Lewis Bailey v. CIR
The Tax Court considered the valuation of two 25 percent interests in a corporation that owned and operated motels. The corporation was valued by both parties using an adjusted net asset value method. That valuation method was accepted by the Tax Court. T...
United States Tax Court US, Action: Estate and Gift Taxation
Full Text of Court Cases (8,508 words)
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| 13 | 6/28/2002 | BVLaw |
Lack of present economic benefit results in finding of future interest
In the April 2002 issue of Shannon Pratt's Business Valuation Update , Owen Fiore and Erin Wilms discussed various attacks by the IRS on pass-through entities. This recent Tax Cour...
United States Tax Court
Court Case Digests (535 words)
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| 13 | 3/28/2001 | BVLaw |
Hayes v. Olmsted & Assoc.
Issues were whether majority's conduct toward minority stockholder was oppressive, the proper method of valuing minority's stock, and value of stock.
Court of Appeals Oregon US, Action: Judicial Dissolution (incl. Withdrawal, Buy Out)
Full Text of Court Cases (7,617 words)
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| 13 | 10/2/1998 | BVLaw |
Lavonna J. Stinson Estate (Stinson I) v. United States
The district court found that forgiveness of corporate debt was not a gift of a present interest to the corporation's shareholder, and, therefore, the annual gift tax exclusion could not be claimed by the donor. It additionally agreed that the gift is va...
United States District Court Indiana US, Action: Estate and Gift Taxation
Full Text of Court Cases (3,859 words)
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| 16 | 3/25/1996 | BVLaw |
Cidulka v. Commissioner
At issue is the valuation of gifts made by decedent in the years 1980, 1981, and 1982 of stock in State Outdoor Advertising, Inc. (SOAI) for gift and estate tax purposes.
United States Tax Court US, Action: Estate and Gift Taxation
Full Text of Court Cases (8,936 words)
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| 17 | 3/2/1999 | BVLaw |
Cities Service Company v. Gulf Oil Corporation
The Oklahoma Supreme Court affirmed the jury's decision to award Cities the amount of it expensed to repurchase treasury stock in anticipation of a merger with Gulf plus attorney's fees as reliance damages for Gulf's breach of the merger agreement. Gulf...
Supreme Court Oklahoma US, Action: Contract
Full Text of Court Cases (12,133 words)
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| 18 | 2/17/2006 | BVLaw |
In Re Luxottica Group, S.P.A. Securities Litigation
Court considers value of CEO non-compete to determine fairness of class-action settlement.
United States District Court New York US, Action: Breach of Fiduciary Duty
Full Text of Court Cases (5,686 words)
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| 18 | 10/31/1991 | BVLaw |
Moore v. Commissioner
Issues are value of interests in a partnership transferred as gifts and whether petitioners are liable for additions to tax for valuation understatement under section 6660.
United States Tax Court US, Action: Estate and Gift Taxation
Full Text of Court Cases (5,975 words)
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| 20 | 3/26/2009 | BVLaw |
Estate of Jorgensen v. Commissioner
Tax Court finds not one factor supporting a legitimate, nontax business purpose for family limited partnerships funded with over $2 million in largely untraded marketable securities.
United States Tax Court US, Action: Federal Taxation
Full Text of Court Cases (10,918 words)
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