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. The Court affirmed the judgment of the United States Court of Appeals for the Eighth Circuit.
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