Judge Larry J. McKinnney of the United States District Court for the Southern District of Indiana has ruled in Fisher v. U.S. Judge McKinney held that because gifts from parents to children of interests in a limited liability company were not present interests in property, these interests were not eligible for an exclusion under Section 2503(b)(1) from the gift tax.
See also Court Rules Transfers of Interest in LLC Do Not Qualify for Gift Tax Exclusion, 2010 TNT 49-20, March 15, 2010.
Posted by Neil I. Rumbak, Associate Editor, Wealth Strategies Journal.
See also Court Rules Transfers of Interest in LLC Do Not Qualify for Gift Tax Exclusion, 2010 TNT 49-20, March 15, 2010.
Posted by Neil I. Rumbak, Associate Editor, Wealth Strategies Journal.
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