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Log In / Register | May 27, 2018

Franchisees Not Having It Their Way with IRS

BNA from Bloomberg News reports:

Owners of popular fast-food restaurant franchises are one group the IRS is hearing from as it sifts through thousands of comments on proposed estate tax rules…Among the more than 8,000 comments that have been submitted in response to the proposed Internal Revenue Service regulations (REG-163113-02) on valuation discounts under tax code Section 2704, are remarks from franchise owners for chains including Burger King, Dunkin’ Donuts and 7-Eleven. The rules would make changes to the valuation of interests in family-owned businesses for estate, gift and generation-skipping transfer tax purposes.

...Robert Branca, vice chairman of the Coalition of Franchisee Associations Inc. and a multistate franchisee for Dunkin’ Donuts, told the IRS in a Sept. 29 letter that “franchises are especially vulnerable if these regulations are amended because of factors particular to franchising that naturally depress a business’ price.”

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