United States Fifth Circuit

Tax court erred in assessing the fair market value of a block of common stock, for purposes of calculating the amount of estate tax owed. Case remanded with guidance as to proper corporate and asset-based valuation methods.

Appellate Information

• Decided 08/01/2002
• Published 08/01/2002

Judges

• WIENER, Circuit Judge:, Before SMITH, DUHE, and WIENER, Circuit Judges.

Court

• United States Fifth Circuit

Counsel

• For Appellant:
  
• John W. Porter (argued), Stephanie Loomis-Price, Baker Botts, Houston, TX, for Petitioner-Appellant.


• For Appellees:
  
• Karen D. Utiger (argued), Teresa Ellen McLaughlin, Tax Div., Eileen J. O'Connor, Asst. Atty. Gen., U.S. Dept of Justice, Charles Casazza, Clerk, U.S Tax Court, Richard W. Skillman, Chief Counsel, IRS, Washington, DC, for Respondent-Appellee.