Business Valuation Update
- How to Review a Report’s Valuation Methodology
- Ideas for Solving Two Problems in the BV Profession
- How Do Your Firm’s Benefits Stack Up?
- Using Rule of Thumb Data to Uncover Cooked Books
Valuation Basics and Beyond: Tackling Areas of Controversy
Patrice Leigh Ferguson and John E. Camp. Family Law Quarterly , Vol. 35, No. 2, Summer 2001. This article, which is part of a family law symposium on valuation issues, is divided into several ...
HOWARD V. SHAY REDUX, Rabe, James G., CFA, ASA, and David Ackerman, Esq.Willamette Management Associates Insights, Spring 1999.
The Pacific Architects and Engineers (PA&E) ESOP, created in 1972, had no put option, as required in ESOPs established since 1986. The company's earnings were marginal, and the stock had never pai ...
Colorado Court Considers Fair Value Standard in Divorce
Colorado Court of Appeals considers extending statutory fair value standard—including preclusion of marketability discounts—to valuing close corporation in divorce.
Preferred Limited Partnerships: The FLP's of Choice?
n Preferred Limited Partnerships: The FLP's of Choice? Hatcher, Milford B., Jr., and Gregory E. Kniesel . Valuation Strategies , July/August 1999, pp. 12-33. This article presents a rather ...
Federal and State Taxation of Limited Liability Companies, 1999 Edition
n FEDERAL AND STATE TAXATION OF LIMITED LIABILITY COMPANIES, 1999 Edition Cartano, David Panel Publishers, A Division of Aspen Publishers, Inc. , 1185 Avenue of the Americas, New York, NY 10036 ...
The Anatomy of Valuing Stock in Close Held Corporations: Pursuing the Phantom of Objectivity into the New Millennium
Stephen J. Leacock Columbia Business Law Review , 2001 Issue This article discusses several valuation approaches followed by the courts, particularly with valuation disputes concerning close ...
VALUATION OF CLOSELY HELD BUSINESSES: LEGAL AND TAX ASPECTS (1998)
n VALUATION OF CLOSELY HELD BUSINESSES: LEGAL AND TAX ASPECTS (1998) Solomon, Lewis D., and Saret, Lewis J. Panel Publishers, New York, N.Y., (800) 447-1717, ext. 366. Available for $150; Per ...
Federal Tax Valuation
FEDERAL TAX VALUATION, Bogdanski, John A. Warren, Gorham & Lamont, 117 East Stevens Avenue, Valhalla, New York 10595, (800) 431-9025. Available for $205, updated twice annually for approxim ...
Latest Court Looks at DLOM: Assumptions Are Everything
In gift/estate case, court considers discounts for lack of marketability and control for LLPs/LLCs and rejects flawed applications of QMDM and Mergerstat data.
Structuring Buy-Sell Agreements: Analysis with Forms, Zaritsky, Howard M.
Warren, Gorham & Lamont of the RIA Group , 31 St. James Avenue, Boston, Mass. 02116, (800) 950-1216. Available for $205, twice-yearly supplements available for $79 each. Hardbound loose-leaf, 6 ...
Ruling on Discounts in Divorce Leaves Case Ripe for Appeal
Court of Appeals affirms minority and marketability discounts for cash-rich, closely held business in divorce; dissent urges statutory fair value standard.
Tax Court displeased with all experts’ DLOC and DLOM analyses
The primary issues in this gift tax case were the appropriate discounts for lack of control and lack of marketability to apply to gifted and sold interests of a family limited partnership.
Keeping It Simple Rules the Day on Partnership Discounts
Court accepts the net asset value and market approaches to valuing limited partnership interests, with discussion of discounts for lack of marketability, lack of control, and need for hard data.
Ky. Adopts Majority Rule in Statutory Fair Value Determinations (Shawnee I)
Kentucky Court of Appeals precludes the net asset value method as well as marketability and minority discounts in statutory fair value determination of dissenting shareholder’s interests.
Summary Findings on Discounts, Stock Sales, and Prior Valuations in Divorce
Court confirms trial court’s application of double discounts (marketability and minority) and evidence of prior sales to value several closely held interests in divorce.
Statutory Appraisals: Louisiana Supreme Court Says Use Discounts ‘Sparingly’
Louisiana Supreme Court preserves the fair market value standard in statutory appraisal cases but finds that marketability and other discounts should be used “sparingly.”
Case of First Impression: Does Statutory Fair Value Include a Control Premium?
Iowa Supreme Court considers whether 1999 amendments to Model Business Corporation Act precluding marketability and minority discounts also permits control premium.
Shareholder agreement restrictions support 30% marketability discounts
The wife appealed a judgment from the trial court that valued husband's minority interest in a closely held corporation in a dissolution of marriage. Wife challenged the trial court's qualif ...
Key-person and marketability discounts lumped together
In this marital dissolution, the issue was the value of the family business, which, in part, sold puppies.
Discounts in Estate Tax Valuation Do Not Apply in Divorce
Appraisal used in estate tax valuation, which included substantial discounts for lack of marketability and control, were inappropriate for use ten years later in divorce.
IRS Challenges Family LLC as Indirect Gift, Including 58% Marketability Discount
Court finds $2.5 million cash transfers to family limited company are indirect gifts, subject to gift tax for full value, excluding 58% marketability discounts.
High Court Pushes Back on Mandatory Discounts in Fair Value Determinations
In key ruling, state high court “expressly” rejects bright-line requirement to apply minority and marketability discounts in all fair value determinations; court says discounts are “just another fact that a court may consider in determining fair value.”
Tax Consequences of Sale Turn on Specific State Law and Facts of the Case
Nebraska appellate court precludes discounts for embedded capital gains tax under the asset approach, confirms tax “adjustments” to the cash flows of a business under the income approach, and affirms that applications of minority and marketability discoun ...
Shareholder Agreement Sparks Suit Over Discount Use in FMV Calculation
Probate court says expert and other testimony aiding in interpretation of ambiguous shareholder agreement shows that fair market value determination of decedent’s minority interest allowed for use of discounts for lack of marketability and control.
Shareholder Agreement Sparks Suit Over Discount Use in FMV Calculation
Appeals court affirms probate court’s ruling that ambiguous shareholder agreement requiring determination of fair market value of decedent’s minority interest in closely held companies accommodated use of discounts for lack of marketability and control.