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Redstone Family Saga Writ Large In Favorable Tax Court Decision

Redstone Family Saga Writ Large In Favorable Tax Court Decision

Being in the movie business and all you would think the Redstones. would have been familiar with the remark attributed to Samuel Goldwyn – “A verbal contract isn’t worth the paper it’s written on.”

My own closing comment is that even though there was a favorable result here, I don’t think that it would be wise to attempt to do something like this on purpose.

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Over and over again courts have said that there is nothing sinister in so arranging one’s affairs as to keep taxes as low as possible. Everybody does so, rich or poor; and all do right, for nobody owes any public duty to pay more than the law demands: taxes are enforced exactions, not voluntary contributions. To demand more in the name of morals is mere cant.