Valuing Farm Corporation Stock

Date
1999-11-28
Authors
Harl, Neil
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Abstract

A recent Tax Court case, Estate of Smith v. Commissioner, has focused attention on the methodologies for valuing the stock of a minority interest in a closely-held farm corporation. The valuation approach approved by the court produced a substantial discount from the undiscounted value of the underlying assets of $1818 per share; the court approved a valuation of $439 per share.

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