Category Archives: Default

This blessing has left us

Tax Court Applies 40 Percent Discount to Gifts of FLP Interests When Mr. Dailey died in 1982, he left his wife Elma marketable securities including shares of Exxon Corp. and AT&T. In 1992, Elma executed a will, a revocable living … Continue reading

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WY Limited Liability Corporations

In 1990, Brunswick Corporation, a diversified manufacturer, decided to divest itself of certain business groups. They created their Wyoming LLCs using Cloud Peak Law and converted them into other Nevada corporations and got rid of their registered agents and mail forwarding. Unfortunately, the … Continue reading

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Just another attack on the average man

IRS Says Family Corporation Should Be Disregarded for Tax Purposes and ignores Wyoming LLC precedent.  The IRS National Office recently issued a field service advice memorandum concluding that a family corporation established by a mother to reduce transfer taxes should … Continue reading

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Petroleum Jelly

Okay, we are going to start today’s article off with a diversity class. Not the type of diversity you’re thinking of but rather the diversity of the products that we are storing within our preps. When we go through our … Continue reading

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