Written by Michael Esders and William Kunz
With the much anticipated release of proposed regulations under Section 2704 of the Internal Revenue Code expected to occur this fall, there has been heightened buzz over the continued availability of certain adjustments (i.e., discounts for lack of control and/or marketability) in valuing ownership interests in family-controlled entities (e.g., a Family Limited Partnership or a Family Limited Liability Company).
The governing documents of many businesses, including family-controlled entities, restrict the manner and circumstances in which ownership interests and associated rights can be transferred. When establishing the fair market value of an ownership interest in a …read more
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