Valuation Discounts Rejected When Liquidation Provision Is More Restrictive Than State Law

Business Valuation Update BVLaw
Legal and Court Case Update
January 13, 1999

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estate and gift taxation
FSA 199919009

Summary

The IRS stated its position with regard to looking through provisions in a partnership agreement preventing liquidation.

See Also

FSA 199919009

Full Text of Court Cases
January 13, 1999

This field service advice concluded that restriction on liquidations on liquidation contained in a family limited partnership agreement were more restrictive than the applicable Missouri state law, and thus, the restrictions should be disregarded for valu ...