On the line – Telecom case turns on subsequent sale data
Abstract: The validity of any business appraisal report depends largely on its use of relevant data before and after the valuation date. The case of Ringgold Telephone Co. v. Commissioner hung on one particular subset of relevant data: a subsequent sale of business assets. This article examines the Tax Court’s decision, which holds some important lessons. Ringgold Telephone Co. v. Commissioner, T.C. Memo 2010-103, May 10, 2010.