Section 2036 Ruling May Force Bengals Out of Cincinnati
Paul L. Caron
University of Cincinnati - College of Law; Pepperdine University - School of Law
November, 18 2009
Tax Notes, Vol. 67, p. 1504, 1995
U of Cincinnati Public Law Research Paper No. 09-40
Lee Sheppard has written recently in these pages of how the Service has assisted the estate planning objectives of plutocrats who own professional sports teams to keep their franchises in their local communities. (See Tax Notes, May 15, 1995, p. 881.) As Ms. Sheppard has explained, the Service recently approved an elaborate plan devised by the late Ewing Kauffman to keep the Royals baseball team in Kansas City. When Kauffman died in 1993, he left the team to the Greater Kansas City Community Foundation, and the Service recently blessed the estate's claimed charitable deduction by ruling that the foundation served the charitable purpose of keeping the team in Kansas City. Tech. Adv. Mem. 9518002 (Jan. 23, 1995), however, may force the Bengals football team to move out of Cincinnati by its use of the substance over form doctrine to recharacterize a transaction designed by the late Paul Brown to leave the team to his children.
Number of Pages in PDF File: 5
Keywords: Tax, Estate Tax, Estate Planning, Tax Planning, Section 2036, Cincinnati Bengals
JEL Classification: K34, K49Accepted Paper Series
Date posted: November 18, 2009
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