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Mark Holmes issued a more than 250-page ruling that put the figure at $111 million, per
Getty
“From the time he was a child Michael Jackson was famous; and there were times in his life, testified his executor, when he was the most famous person in the world,” Holmes wrote in his ruling. “There were certainly years when he was the most well-known popular-music star, and even after his death there have been years when he was the world’s highest-earning entertainer. But there were also many years when he was more famous for his unusual behavior and not his unusual talent. And there were some years where his fame was turned infamous by serious accusations of the most noisome acts,” he continued.
Michael Jackson’s Likeness Valued at $4.1 Million in Big Tax Court Win for Estate
Steve Granitz/WireImage
The executors of the estate say the decision is a huge, unambiguous victory for Michael Jackson’s children.
More than four years after going head-to-head with the IRS in U.S. Tax Court, Michael Jackson s estate has emerged largely victorious with a federal judge finding the artist s worth at the time of his death to be much closer to its estimate than the government s and declining to issue any penalties.
The dispute centered on how much Jackson s image and likeness were worth when he died in 2009, which would determine how much in taxes the estate would owe the IRS. It also includes the worth of Jackson s interest in New Horizon Trust II, which included his stake in Sony/ATV Music Publishing, and New Horizon Trust III, which included Mijac Music, a publishing catalog that owned the copyrights to compositions Jackson wrote or co-wrote and works by other songwriters. (