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United States
valuationbuy sell agreementlife insurance
Connelly v United States
602 U.S. 257 (2024)
Key Principle
For federal estate-tax valuation, life-insurance proceeds a closely held corporation receives and uses to redeem a deceased shareholder's shares are a corporate asset that increases the company's fair market value, and the corporation's contractual obligation to redeem those shares at fair value is not a liability that offsets the proceeds.
Area of Law
tax
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