Another Taxpayer Win: Court Accepts 47.5% Discount for Formed (But Not Funded) FLP

Business Valuation UpdateVol. 15 No. 12
Legal and Court Case Update
December 2009

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6733 Trusts, Except Educational, Religious, and Charitable
525920 Trusts, Estates, and Agency Accounts
federal taxation
Keller v. United States (II)
2009 WL 2601611 (S.D.Tex.)
August 20, 2009
US
Federal Court
Texas
United States District Court
Robert Reilly (taxpayer); Alan Shapiro (IRS)
Rainey

Summary

Court accepts combined discounts of 47.5% on transfers to an FLP, which was formed but not fully funded before the founder’s death.

See Also

Keller v. United States (II)

Full Text of Court Cases
August 20, 2009

Court accepts combined discounts of 47.5% on transfers to an FLP, which was formed but not fully funded before the founder’s death.