7th Circuit Affirms Tax Court; Gifts Were of Future Interests

Business Valuation UpdateVol. 9 No. 9
Legal and Court Case Update
September 2003
0811 Timber Tracts
111421 Nursery and Tree Production
estate and gift taxation
gift tax, limited liability company, pass-through entity

Hackl v. Commissioner (II)
2003 U.S. App. LEXIS 13936
July 11, 2003
Federal Court
7th Circuit
United States Court of Appeals


This opinion is the 7th Circuit Court of Appeals’ ruling on appeal from the Tax Court opinion of Hackl v. Commissioner, 118 T.C. 279 (U.S. Tax Ct. 2002).

See Also

Hackl v. Commissioner (II)

Issue was whether restrictions on transfer in operating agreement meant that the gifted shares were "essentially without immediate value to the donees."