Henry v. Department of Revenue

CARL N. BYERS, Judge.

This is an inheritance tax case concerning the value of stock in a closely held corporation. The parties have stipulated to all facts except some background information which is not in dispute. The relevant facts are:

“1.

“Decedent died domiciled in Douglas County, Oregon, on November 25,1982.

“2.

“At the time of his death, decedent owned 34,775 shares of stock in Henry Enterprises, Inc., an Oregon family ranch corporation.

“3.

“Decedent’s interest in Henry Enterprises, Inc. was ‘closely held’ as defined by ORS 118.155, being 22.25 percent of the corporation’s 156,275 total…