Further Guidance on Where Real Property Interests Constitute an Interest in a Closely-Held Business for Purposes of I.R.C. § 6166

dc.contributor.author Harl, Neil
dc.contributor.department Iowa State University Digital Repository
dc.date 2018-02-19T02:18:22.000
dc.date.accessioned 2020-06-29T22:54:32Z
dc.date.available 2020-06-29T22:54:32Z
dc.date.embargo 2017-11-13
dc.date.issued 2006-08-04
dc.description.abstract <p>The rules for “15-year”<strong>1 </strong>installment payment of federal estate tax<strong>2 </strong>require that the value of an “interest in a closely held business” exceeds 35 percent of the adjusted gross estate.<strong>3 </strong>The statute specifies that an interest in a closely held business means an interest as a proprietor in a trade or business carried on by a proprietorship, an interest as a partner in a partnership carrying on a trade or business or stock in a corporation carrying on a trade or business.<strong>4</strong> However, there is no statutory guidance on the circumstances in which ownership of real property is deemed to be a trade or business. This has long been a matter of concern in farm and ranch estate (and business) planning because of the almost dominant role played by real estate in farm and ranch operations.</p>
dc.identifier archive/lib.dr.iastate.edu/aglawdigest/vol17/iss15/1/
dc.identifier.articleid 1837
dc.identifier.contextkey 11038969
dc.identifier.s3bucket isulib-bepress-aws-west
dc.identifier.submissionpath aglawdigest/vol17/iss15/1
dc.identifier.uri https://dr.lib.iastate.edu/handle/20.500.12876/3267
dc.source.bitstream archive/lib.dr.iastate.edu/aglawdigest/vol17/iss15/1/AgLawDigest_v17n15_01.pdf|||Fri Jan 14 17:50:05 UTC 2022
dc.subject.disciplines Agricultural and Resource Economics
dc.subject.disciplines Agricultural Economics
dc.subject.disciplines Agriculture Law
dc.subject.disciplines Public Economics
dc.title Further Guidance on Where Real Property Interests Constitute an Interest in a Closely-Held Business for Purposes of I.R.C. § 6166
dc.type article
dc.type.genre article
dspace.entity.type Publication
relation.isJournalIssueOfPublication 1672d874-fb72-4b4e-a0d0-65bec3bcb55e
relation.isOrgUnitOfPublication d2bcee6c-7cba-4fa7-bd11-543354ce7b1b
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