4 October 1991 T.I. (Tax Window, No. 10, p. 16, ¶1498)

Where a public corporation plans to distribute, as a dividend in kind, all the shares of a wholly-owned subsidiary which have a fair market value to it of $1 per share but which, because of minority discounts, will have a fair market value of 80¢ per share after the distribution, the amount of the dividend will be $1 per share.

Where a public corporation plans to distribute, as a dividend in kind, all the shares of a wholly-owned subsidiary which have a fair market value to it of $1 per share but which, because of minority discounts, will have a fair market value of 80¢ per share after the distribution, the amount of the dividend will be $1 per share.