Livestock Production Support Services
This industry comprises establishments primarily engaged in performing support activities related to raising livestock (e.g., cattle, goats, hogs, horses, poultry, sheep). These establishments may perform one or more of the following: (1) breeding services for animals, including companion animals (e.g., cats, dogs, pet birds); (2) pedigree record services; (3) boarding horses; (4) dairy herd improvement activities; (5) livestock spraying; and (6) sheep dipping and shearing.
Dettloff-Meyer v. Meyer
The husband in this divorce case appealed the circuit court ruling that relied on the purchase price of the business less than a year before the valuation date. The purchase was made from the wife’s parents at a price the parents determined of $500,000, most of which was goodwill. After an initial ruling from the circuit court accepting the value less debt of the husband’s expert, the wife asked for a reconsideration. The Circuit Court granted the reconsideration and found a value of the business of $45,230. The husband appealed the reconsidered decision of the circuit court. The appellate court determined that the circuit court’s use of the purchase price was not erroneous.
Wisconsin Appellate Court Affirms Purchase Price as Value of the Business in a Divorce Matter
The husband in this divorce case appealed the circuit court ruling that relied on the purchase price of the business less than a year before the valuation date. The purchase was made from the wife’s parents at a price the parents determined of $500,000, most of which was goodwill. After an initial ruling from the circuit court accepting the value less debt of the husband’s expert, the wife asked for a reconsideration. The Circuit Court granted the reconsideration and found a value of the business of $45,230. The husband appealed the reconsidered decision of the circuit court. The appellate court determined that the circuit court’s use of the purchase price was not erroneous.
Due Consideration to Competitive Business Climate Lends Credence to Valuation
The Michigan Court of Appeals affirmed the use of the market approach rather than an income capitalization method to value the parties’ businesses under the facts of this case.
Davidson v. Davidson (I)
The Michigan Court of Appeals affirmed the use of the market approach rather than an income capitalization method to value the parties’ businesses under the facts of this case. The lower court found the market approach more appropriate in light of the com ...
Lewis v. Lewis
Issue was valuation of husband's partnership interest in a boarding kennel and his interest in an animal hospital, including whether professional goodwill exclusion was properly applied.