T.C. Memo. 2005-104
UNITED STATES TAX COURT
SANTA MONICA PICTURES, LLC, PERRY LERNER, TAX MATTERS PARTNER,
Petitioner v. COMMISSIONER OF INTERNAL REVENUE, Respondent
CORONA FILM FINANCE FUND, LLC, PERRY LERNER, TAX MATTERS PARTNER,
Petitioner v. COMMISSIONER OF INTERNAL REVENUE, Respondent
Docket Nos. 6163-03, 6164-03.* Filed May 11, 2005.
George W. Connelly, Jr., Linda S. Paine, and Phyllis Ann
Guillory, for petitioner.
James P. Thurston, H. Clifton Bonney, Jr., and Kenneth C.
Peterson, for respondent.
* Petitioner in docket No. 6163-03 is Santa Monica Pictures,
LLC (SMP), Perry Lerner, Tax Matters Partner. Petitioner in
docket No. 6164-03 is Corona Film Finance Fund, LLC (Corona),
Perry Lerner, Tax Matters Partner. By Order dated Jan. 16, 2004,
we consolidated these cases for purposes of trial, briefing, and
opinion. References to petitioner in this opinion are to Perry
Lerner in his capacity as tax matters partner of SMP and Corona.
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