The United States Tax Court has published a memorandum opinion by Judge Mark Holmes, entitled Estate of Anne Y. Petter v. Commissioner. The Tax Court, in a case where the value of shares donated to a FLLC was higher than first reported, ruled that the transfers of shares to the company amounted to gifts of an aggregate and set number of units, and the formulas used to govern the transfers were not void as contrary to public policy.
Posted by Marc Patterson, Associate Editor, Wealth Strategies Journal.
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