Wandry appeal dropped

On March 26, 2012, the Tax Court issued what has been heralded as a ground breaking decision in Wandry v. Commissioner, T.C. Memo 2012-88. The Court upheld a stated dollar value defined value clause of gifts of LLC interests, in which no charity was involved in the formula allocation. A Notice of Appeal to the 10th Circuit was filed on August 28.

Pursuant to Stipulations to Dismiss dated October 16, the parties stipulated that the case be dismissed with prejudice, that each party bear its own appellate costs, and that an order of dismissal be entered by the Clerk of the Court.  The Order dismissing the appeal was filed on October 17.

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