Redstone v. Comm'r (In re Estate of Redstone)
United States Tax Court
R determined a gift tax deficiency against E, the estate of D, a deceased individual. D worked in a family business with his father and his brother. This business was reorganized in 1959 as National Amusements, Inc. (NAI). Upon NAI's incorporation, D's father contributed a disproportionate amount of capital, but the three were each listed as registered owners of 1/3 of NAI's shares. D was eventually forced out of the business.
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R determined a gift tax deficiency against E, the estate of D, a deceased individual. D worked in a family business with his father and his brother. This business was reorganized in 1959 as National Amusements, Inc. (NAI). Upon NAI's incorporation, D's father contributed a disproportionate amount of capital, but the three were each listed as registered owners of 1/3 of NAI's shares. D was eventually forced out of the business. Upon departure he demanded all of his stock, which his father refused to deliver. Citing the disproportionate capital contributions in 1959, his father insisted that a…
1Opinion of the Court
ESTATE OF EDWARD S. REDSTONE, DECEASED, MADELINE M. REDSTONE, EXECUTRIX, Petitioner v. COMMISSIONER OF INTERNAL REVENUE, Respondent
Redstone v. Comm'r (In re Estate of Redstone)
Docket No. 8401-13.
United States Tax Court
145 T.C. 259; 2015 U.S. Tax Ct. LEXIS 46; 145 T.C. No. 11;
October 26, 2015, Filed
O'Connor v. Redstone, 2007 Mass. Super. LEXIS 303 (Mass. Super. Ct., 2007)
Decision will be entered for petitioner.
R determined a gift tax deficiency against E, the estate of D, a deceased individual. D worked in a family business with his father and his brother. This business was reorganized in 1959…
2Cases cited17 opinions
- Welch v. HelveringSupreme Court of the United States · 1933
- Commissioner v. WemyssSupreme Court of the United States · 1945
- Harris v. CommissionerSupreme Court of the United States · 1950
- Weller v. CommissionerUnited States Tax Court · 1962
- Rosenthal v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1953
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