Opinion · Court of Appeals for the Ninth Circuit
Kamilche Company Simpson Redwood Co. v. United States
Kamilche Co. Simpson Redwood Co. v. United States, 75 F.3d 1391 (9th Cir. 1996)
- Type
- Opinion
- Court
- Court of Appeals for the Ninth Circuit
- Jurisdiction
- Federal
- Date
- 1996-02-05
- Topic
- employee-benefits-and-executive-compensation
ORDER The opinion cited at 53 F.3d 1059 (9th Cir.1995), is hereby amended as follows: At 53 F.3d 1064, before the word “REVERSED,” the following paragraph is added: In its petition for rehearing, the government reminds us that Simpson received a benefit in the amount of $300,000.00 as part of the transaction in which it dis-. claimed its interest and contests whether donative intent has been established to that extent. If the fair market value of the donated property exceeds the value of the property received in return, the taxpayer has the requisite donative intent for the excess value. conveyed. United States v. American Bar Endowment, 477 U.S. 105, 118, 106 S.Ct. 2426, 2433-34, 91 L.Ed.2d 89 (1986). Simpson concedes, and we so hold, that its tax deduction must be reduced to that extent, i.e. to $13,800,000.00, based on the stipulated record.
Citator
UpLaw has not yet analyzed Kamilche Company Simpson Redwood Co. v. United States. The absence of a flag is not a finding that it is good law.
- Authority status
- pending
- Cited by
- 6 opinions
ORDER
The opinion cited at 53 F.3d 1059 (9th Cir.1995), is hereby amended as follows:
At 53 F.3d 1064, before the word “REVERSED,” the following paragraph is added:
In its petition for rehearing, the government reminds us that Simpson received a benefit in the amount of $300,000.00 as part of the transaction in which it dis-. claimed its interest and contests whether donative intent has been established to that extent. If the fair market value of the donated property exceeds the value of the property received in return, the taxpayer has the requisite donative intent for the excess value. conveyed. United States v. American Bar Endowment, 477 U.S. 105, 118, 106 S.Ct. 2426, 2433-34, 91 L.Ed.2d 89 (1986). Simpson concedes, and we so hold, that its tax deduction must be reduced to that extent, i.e. to $13,800,000.00, based on the stipulated record.
Except as granted to the above extent, the petition for rehearing is DENIED.