Legal Opinion
Estate of Duane B. Farnam, Mark D. Farnam, Personal Representative, and Estate of Lois L. Farnam, Mark D. Farnam, Personal Representative v. Commissioner
United States Tax Court
Decided February 4, 2008No. 3575-06Unknown
1Opinion of the Court
130 T.C. No. 2
UNITED STATES TAX COURT ESTATE OF DUANE B. FARNAM, DECEASED, MARK D. FARNAM, PERSONAL REPRESENTATIVE, AND ESTATE OF LOIS L. FARNAM, DECEASED, MARK D. FARNAM, PERSONAL REPRESENTATIVE, Petitioners v. COMMISSIONER OF INTERNAL REVENUE, Respondent Docket No. 3575-06. Filed February 4, 2008. Held: For purposes of the liquidity test of sec. 2057(b)(1)(C), I.R.C. (relating to estate tax deductions under sec. 2057(a), I.R.C., for certain qualified family-owned business interests), decedents’ loans to their family-owned corporation are not treated as “interests” in the corporation. Sue…
2Cases cited12 opinions
- Chevron U. S. A. Inc. v. Natural Resources Defense Council, Inc.Supreme Court of the United States · 1984
- United States v. Ron Pair Enterprises, Inc.Supreme Court of the United States · 1989
- Kaiser Aluminum & Chemical Corp. v. BonjornoSupreme Court of the United States · 1990
- Burlington Northern Railroad v. Oklahoma Tax CommissionSupreme Court of the United States · 1987
- Fernandez v. CommissionerUnited States Tax Court · 2000
7 more not listed; retrieve them via the Exa API.