Proposed IRS rule might affect transition plans

Proposed IRS rule might affect transition plans

Brent Haden

Drovers

In the past 50 years, family ranch operations have increasingly incorporated under state law to take advantage of the liability protection and other business advantages available to corporate entities. Limited liability companies (“LLCs”), family limited partnerships (“FLPs”) and other corporate entities also provide tax advantages when transitioning ownership of the operation to the next generation.

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