Connelly v. United States
| Connelly v. United States | |
|---|---|
 | |
| Decided Jun 6, 2024 | |
| Full case name | Connelly v. United States |
| Citations | 602 U.S. ___ (more) |
| Holding | |
| A corporation’s contractual obligation to redeem shares is not necessarily a liability that reduces a corporation’s value for purposes of the federal estate tax. When calculating the federal estate tax, the value of a decedent’s shares in a closely held corporation must reflect the corporation’s fair market value. | |
| Court membership | |
| |
| Case opinion | |
| Majority | Thomas, joined by unanimous |
Connelly v. United States, 602 U.S. ___ (2024), was a United States Supreme Court case in which the Court held that a corporation's contractual obligation to redeem shares is not necessarily a liability that reduces a corporation's value for purposes of the federal estate tax. When calculating the federal estate tax, the value of a decedent's shares in a closely held corporation must reflect the corporation's fair market value.[1][2]
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[edit]This article incorporates written opinion of a United States federal court. As a work of the U.S. federal government, the text is in the public domain. "[T]he Court is unanimously of opinion that no reporter has or can have any copyright in the written opinions delivered by this Court." Wheaton v. Peters, 33 U.S. (8 Pet.) 591, 668 (1834)
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