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Oct 18

New Jersey Abolishes Its Estate Tax

Since 2002 New Jersey has imposed one of the highest, if not the highest, estate tax among those states which continue to impose an estate tax.  That is because its estate tax exemption of $675,000 was the smallest in the nation. That is no longer… Read More

Aug 17

Treasury Department Plans to Close Valuation Loopholes for Closely-held Businesses

On August 2nd, the Treasury issued proposed regulations that seek to eliminate the use of several strategies to reduce estate, gift, and generation-skipping tax (“GST”). Specifically, if the new rules are finalized, taxpayers will generally no longer be able to take certain types of voting… Read More

Feb 02

Demystifying Discounts

Discounts for lack of marketability and lack of control or minority interest are essential elements of the valuation of stock or other interests in a closely-held business.  They are factors which a prospective buyer will consider in determining how much to offer for such an… Read More

Feb 08

Disappearing Discounts

While the federal estate and gift tax used to be assessed at a maximum rate of the confiscatory fifty-five percent (55%) (and for a few years and for very large estates, an astounding sixty-five percent (65%)) it is now at the historically low figure of… Read More