Stein v. Idaho State Tax Commission

I cannot concur in the majority’s holding that “flower bonds” which are credited against federal estate tax liability at their par value should nevertheless be appraised for state inheritance tax purposes at their substantially lower value on the so called “open market.” The Court’s decision here is glaringly inconsistent with our decision in Estate of Morrison v. Idaho State Tax Commission, 98 Idaho 766, 572 P.2d 869 (1977). Morrison indicates that either party in a dispute over the value of property for tax purposes is free to prove that actual market forces operate to increase or decrease…