Michael Jackson has been given a legal win against the US tax authority regarding how much the late artist was worth at the time of his death.As covered by The Hollywood Reporter, the court case centered on how much tax Jackson’s estate owed the Internal Revenue Service following his death in 2009, based on his assets, image and likeness.
The singer’s contested investments included New Horizon Trust II, which included his stake in Sony/ATV Music Publishing, and New Horizon Trust III, which included Mijac Music, a publishing catalogue.While the IRS valued Jackson’s image and likeness at £313,000 ($434million), the estate initially issued a starkly different valuation of approximately $2,000.
Read more on nme.com
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