Court Opinion

ID: 9468355
Source: CourtListenerOpinion
Date Created: 2023-08-05 02:12:42.812197+00
Date Added: 2024-06-11T17:40:49.836433
License: Public Domain

TATE, Circuit Judge,
dissenting:
The writer substantially concurs in the dissent of Judge Rubin. He would go further, however, and would adhere to the essential rationale of the panel opinion, 619 F.2d 407 (1980): for federal estate tax purposes, neither federal tax regulation nor Texas state law prevent the Commissioner from valuing, in accord with economic reality, the wife’s interest transferred at the moment of her death as constituting a one-half interest in a majority ownership of the stock of a closely held corporation; nor require that the interest so transferred be fictitiously valued as if it were instead only a minority interest in such closely held corporation (that has been in fact controlled by the majority block that included the decedent’s holding in indivisión, i. e., by tenancy in common).
I therefore respectfully dissent.