Case Name: KAMILCHE COMPANY; Simpson Redwood Co., Plaintiffs-Appellants, v. UNITED STATES of America, Defendant-Appellee
Court: United States Court of Appeals for the Ninth Circuit
Jurisdiction: United States
Decision Date: 1996-02-05
Citations: 75 F.3d 1391
Docket Number: No. 93-15768
Parties: KAMILCHE COMPANY; Simpson Redwood Co., Plaintiffs-Appellants, v. UNITED STATES of America, Defendant-Appellee.
Judges: Before: GOODWIN, O’SCANNLAIN and KLE.INFELD, Circuit Judges.
Reporter: Federal Reporter 3d Series
Volume: 75
Pages: 1391–1391

Head Matter:
KAMILCHE COMPANY; Simpson Redwood Co., Plaintiffs-Appellants, v. UNITED STATES of America, Defendant-Appellee.
No. 93-15768.
United States Court of Appeals, Ninth Circuit.
Feb. 5, 1996.
Before: GOODWIN, O’SCANNLAIN and KLE.INFELD, Circuit Judges.

Opinion:
ORDER
The opinion cited at 53 F.3d 1059 (9th Cir.1995), is hereby amended as follows:
At 53 F.3d 1064, before the word "REVERSED," the following paragraph is added:
In its petition for rehearing, the government reminds us that Simpson received a benefit in the amount of $300,000.00 as part of the transaction in which it dis-. claimed its interest and contests whether donative intent has been established to that extent. If the fair market value of the donated property exceeds the value of the property received in return, the taxpayer has the requisite donative intent for the excess value. conveyed. United States v. American Bar Endowment, 477 U.S. 105, 118, 106 S.Ct. 2426, 2433-34, 91 L.Ed.2d 89 (1986). Simpson concedes, and we so hold, that its tax deduction must be reduced to that extent, i.e. to $13,800,000.00, based on the stipulated record.
Except as granted to the above extent, the petition for rehearing is DENIED.