Michigan | Wills and Trusts
6/26/02, 10:45 am
Legal Question
QFOBI and LLC valuations
I am trying to determine how to report valuations in a 706 where there is a family business set up as an LLC. The law says that when valuing an LLC you can only get a discount up to the fair market value of the owner's share, but valuation of a QFOBI allows up to a $1.3 million discount. How does one reconcile the difference?
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Read More Answered By: Geoffrey Lahn |
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