Saturday, April 26, 2003 4:38:28 PM
Gamco:
OT (Just in case the powers-that-be) determine that a discussion of your premise that Officer/Insiders are selling huge blocks of shares to set up a Family Limited Partnership to pass on anticipated tremendous value increases in IDCC to heirs, is off topic.
First of all, assets in a Family Limited Partnership are valued on a COST basis in calculating the Gift Tax due, AFTER using up the current Lifetime Exclusion of $1,000,000 which increases in steps to $3,500,000 in 2010 (I believe) There is, in addition, the Annual Gift Tax Exclusion, each and every year (currently $11,000)
For a multiplicity of reasons, suffice to say, that IMO, your premise is very weak indeed.
STINVESTOR
OT (Just in case the powers-that-be) determine that a discussion of your premise that Officer/Insiders are selling huge blocks of shares to set up a Family Limited Partnership to pass on anticipated tremendous value increases in IDCC to heirs, is off topic.
First of all, assets in a Family Limited Partnership are valued on a COST basis in calculating the Gift Tax due, AFTER using up the current Lifetime Exclusion of $1,000,000 which increases in steps to $3,500,000 in 2010 (I believe) There is, in addition, the Annual Gift Tax Exclusion, each and every year (currently $11,000)
For a multiplicity of reasons, suffice to say, that IMO, your premise is very weak indeed.
STINVESTOR
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