Hoops, LP, et al v. CIR

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Case overview

Case Number:

22-2012

Court:

Appellate - 7th Circuit

Nature of Suit:

tax 

  1. August 09, 2023

    No $10.7M Tax Deduction In Grizzlies Sale, 7th Circ. Says

    A three-judge Seventh Circuit panel affirmed Wednesday a U.S. Tax Court decision that denied a $10.7 million tax deduction for deferred compensation to the partnership that sold the NBA's Memphis Grizzlies.

  2. January 20, 2023

    7th Circ. Judges Scrutinize $11M Tax Ruling In NBA Team Sale

    Seventh Circuit judges questioned a U.S. Tax Court decision blocking a company's $10.6 million ordinary business deduction for the sale of the NBA's Memphis Grizzlies, saying reclassifying the break as a deferred compensation deduction risks eliminating the company's ability to ever claim it.