Cleaver v. Wisconsin Department of Revenue

Laird C. Cleaver appeals from a judgment affirming the decision of the state tax appeals commission which affirmed the department of revenue's denial of his income tax refund claim. His claim arises out of an alleged overpayment of income tax on the gain he realized when he made a "net gift" to the Laird C. Cleaver Issue Trust. We conclude that he is not entitled to the claimed refund and affirm the judgment.

In December 1976 Cleaver transferred 25,000 shares of Coca Cola Company common stock to the Laird C. Cleaver Issue Trust. The transfer required the trustees to pay any gift tax on the…