David T. Leibell & Daniel L. Daniels, in the Stamford, Conn., office of Wiggin and Dana LLP.
A new private letter ruling shows business owners a way to transfer their businesses to a family foundation, save estate taxes, and avoid big penalties under the private foundation excise tax rules.
In Private Letter Ruling 200927041, issued July 2, 2009, a business owner bequeathed an interest in business real estate to a private foundation, but gave family membe
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