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SUPPLEMENTAL MEMORANDUM OPINION
JACOBS, Judge: This case is before us on remand from the
Court of Appeals for the Ninth Circuit. Estate of Mitchell v.
Commissioner, 250 F.3d 696 (9th Cir. 2001), affg. 103 T.C. 520
(1994) and vacating and remanding T.C. Memo. 1997-461. The Court
of Appeals has directed us to shift the burden of proof to
respondent regarding the determination of additional taxes and to
explain our valuation of stock included in decedent’s estate for
purposes of Federal estate tax consistent with the standards
established in Leonard Pipeline Contractors v. Commissioner, 142
F.3d 1133 (9th Cir. 1998), revg. and remanding T.C. Memo. 1996-
316.1
We incorporate herein the findings of fact set forth in Estate
of Mitchell v. Commissioner, T.C. Memo. 1997-461, by this
reference. For ease of understanding, we herein summarize the
relevant facts from that opinion as well as set forth additional
findings of fact for the purpose of deciding the issue on remand.
The stipulations and exhibits are also incorporated herein by this
reference.
Background
1 On remand, in Leonard Pipeline Contractors v.
Commissioner, T.C. Memo. 1998-315, affd. without published
opinion 210 F.3d 384 (9th Cir. 2000), we reentered our decision.
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