Client AlertsCorporate & BusinessRecent Supreme Court Decision Upends Business Succession Planning Strategies
By Lawrence J. Sheh, Elizabeth O. Manchester, Brian J. Reilly, and Madeline M. Ursini In Connelly vs. United States (602 U.S. 257, June 6, 2024), the Supreme Court unanimously ruled that in a redemption of a deceased shareholder’s shares of stock, the corporation’s fair market value should include the proceeds received by the corporation from...