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United States valuationbuy sell agreementlife insurance

Connelly v United States

602 U.S. 257 (2024)
JurisdictionUnited States
CourtSupreme Court of the United States
Year2024
StatusBinding authority

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

Related Cases

Moore v United States 602 U.S. 572 (2024)
Commissioner v Banks 543 US 426 (2005)
Gregory v Helvering 293 US 465 (1935)

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