Connelly v. United States
Supreme Court of the United States
Decided Jun 6, 2024
Full case name	Connelly v. United States
Docket no.	23-146
Citations	602 U.S. 257 ( more ) 144 S. Ct. 1406
Case history
Prior	70 F.4th 412 (8th Cir. 2023), aff'g 2021 WL 4281288 (E.D. Mo. Sept. 21, 2021)
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
Chief Justice John Roberts Associate Justices Clarence Thomas  · Samuel Alito Sonia Sotomayor  · Elena Kagan Neil Gorsuch  · Brett Kavanaugh Amy Coney Barrett  · Ketanji Brown Jackson
Case opinion
Majority	Thomas, joined by unanimous

Connelly v. United States, 602 U.S. 257 (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]} The Court affirmed the judgment of the United States Court of Appeals for the Eighth Circuit.

References

External links

• Text of Connelly v. United States, 602 U.S. ___ (2024) is available from: Cornell Findlaw Justia

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