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Taxation & Estate Planning
: TaxProf Blog8th Cir.: § 162(k) Precludes Deduction for ESOP Distributions
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The Eighth Circuit yesterday joined the Tax Court (131 T.C. 29 (2008)) in holding that § 162(k) precludes a company from deducting $9.4 million in cash distribution dividends paid on the redemption of stock held in an ESOP. Nestle Purina Petcare Co. v. Commissioner, No. 09-1381 (8th Cir. Feb. 9,...Full post as published by TaxProf Blog on February 10, 2010 (boomark / email).
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