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Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

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Tuesday, June 3, 2014

Sterling Tax Numbers for Clippers Sale Projected at $662 Million

TaxAs I have previously discussed, an agreement has been reached for former Microsoft CEO Steve Ballmer to buy the Clippers for $2 billion, and Donald Sterling is expected to face a huge tax bill as a result. As previously estimated the tax bill is projected to be high, and now with more information the specific numbers projected will total $662 million. This is about one-third of the profits from the sale.

See Bill Bischoff, Donald Sterling Faces $662 Million Tax Bill, Market Watch, June 1, 2014.

Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.

http://lawprofessors.typepad.com/trusts_estates_prof/2014/06/sterling-tax-numbers-for-clippers-sale-projected-at-662-million.html

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