Help Us Take Action Against The Elimination Valuation Discounts For Non-Business Assets

The House Democrats has proposed that non-business assets would not be allowed to have valuation discount applied, no matter how they are held!!
Don’t Wait, Act Now! Contact your member of congress and tell him /her: DO NOT ELIMINATE VALUATION DISCOUNTS FOR NON-BUSINESS ASSETS!!!
The proposed elimination of valuation discounts would apply both to gifts during life and at death of non-publicly traded stocks, limited partnership interests, limited liability company interests and other interests unless the interests are in operating businesses.
This ignores the basic valuation rule of an asset – “what a hypothetical willing buyer will pay a hypothetical willing seller with neither being under a compulsion to buy or sell” –and could artificially increase the value of assets causing additional estate or gift tax to be paid unnecessarily.
While the proposal would carve out operating businesses, it is not clear that the exception would apply to most family businesses, which are commonly owned through limited liability companies, partnerships, and S corporations.

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