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5. whether the statututory period of limitations bars
respondent from assessing transferee tax liability against
petitioners for 1984 and 1985. We hold that it does not.
Unless stated otherwise, section references are to the
Internal Revenue Code in effect for the years in issue. Rule
references are to the Tax Court Rules of Practice and Procedure.
FINDINGS OF FACT
Some of the facts have been stipulated and are so found.
A. Petitioners
Jeff A. Wiltzius (Wiltzius) lived in Casselberry, Florida,
and William R. Waldorf (Waldorf) lived in Maitland, Florida, when
they filed their petitions in these cases.
B. House of Babes of Fern Park, Inc.
1. Formation and Operation
Waldorf incorporated House of Babes in Florida on May 1,
1983. House of Babes is a topless bar. Initially, Waldorf was
the sole shareholder of House of Babes. He was president of
House of Babes from 1984 to 1986.
Seminole County zoning ordinances, regulations, and rules
generally did not permit topless bars. However, House of Babes
was permitted to operate because it opened before Seminole County
prohibited topless bars (i.e., it was grandfathered). Under the
terms of the grandfathering, if it were closed as a sanction for
violating any county rule or regulation, it could not reopen.
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