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Colorado | Your link shows up here as, Access is denied. Are you logged on as a member?
I’m not finding anything about it on the National Cattlemen's or National Association of Manufacturers sites but assume this is the issue you’re referring to.
If you have other links to the letter I’ll like to see them.
The Proposed Regulations
The IRS released the section 2704 proposed regulations on August 2, 2016, and they were published in the Federal Register on August 4. 81 Fed. Reg. 51413-51425 (Aug. 4, 2016). If and when finalized, the proposed regulations would:
• Treat as an additional transfer the lapse of voting and liquidation rights for transfers made within three years of death of interests in a family-controlled entity, thereby eliminating or substantially limiting the lack of control and minority discounts for these transfers;
• Eliminate any discount based on the transferee’s status as a mere assignee and not a full owner and participant in the entity;
• Disregard the ability of most nonfamily member owners to block the removal of covered restrictions unless the nonfamily member has held the interest for more than three years, owns a substantial interest in the entity, and has the right, upon six months’ notice, to be redeemed or bought out for cash or property, not including a promissory note issued by the entity, its owners, or anyone related to the entity or its owners;
• Disregard restrictions on liquidation that are not mandated by federal or state law in determining the fair market value of the transferred interest; and
• Clarify the description of entities covered to include limited liability companies and other entities and business arrangements, as well as corporations and partnerships.
If the final regulations are similar to the proposed regulations, taxpayers will have lost a significant estate planning technique, and the tax cost of transferring interests in family-owned entities will increase.
https://www.mcguirewoods.com/Client-Resources/Alerts/2016/8/Proposed...
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Corporate tax regulation change
