The U.S. Tax Court addressed the validity of formula clauses used by John H. Hendrix and Karolyn M. Hendrix in transferring stock of John H. Hendrix Corp. to family trusts and a charitable foundation. The court ruled that the formula clauses were valid, reached at arm's length, and not contrary to public policy, allowing the petitioners to deduct the claimed charitable contributions.
documents/EFTA00598139.pdf
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