32 income tax returns from 1983 to 1986 and 1991 (partial year). He paid tax thereon as follows: Capital Gains Tax Allocable to Income From Capital Gains Year Forgiveness of Debt Income 1983 $185,185 $37,037 1984 332,000 66,400 1985 329,728 65,946 1986 1,078,537 215,707 1991 330,285 94,275 Total 2,255,735 479,365 H. Paul Brown's Will On October 26, 1990, Paul Brown executed his will. He left any interest he had in the Brown family partnership and any of his shares of the Bengals stock to Mike and Peter Brown. He left to Peter any interest he had in a promissory note from Mike and to Mike any interest he had in a promissory note from Peter. He provided that, if either son died before him, these specific bequests would transfer to his sons' estates. I. NFL Approval of the Transfer of Bengals Stock From Sawyer to Brown Family Members Before October 20, 1992, Mike, Nancy, Peter, and Katherine Brown asked the NFL to approve the transfer of 329 shares of Bengals stock from Sawyer pursuant to the 1983 stock option agreement. The NFL's executive committee and the members of the NFL approved the transfer. By letter dated February 23, 1993, Paul Tagliabue, Commissioner of the NFL, told the Browns and Sawyer that the NFL had approved the transfer.Page: Previous 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 Next
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