NO.PZ2025010601000071
问题如下：
John
is a $400 million millionaire in a country with very high estate taxes, and he
wants to pass all of his wealth to the next generation. His adviser suggests
putting the illiquid assets into a family limited partnership, which is
expected to quality for a combined lack of liquidity and lack of control
discount of 25%,, and gifting shares of the partnership instead of liquid
securities.
选项：
解释：
A
gift of $400 million worth of
the underlying assets, when gifted in the form of the FLP shares, would qualify
for the $300 million gift
exclusion. In addition, the FLP shares would provide the heirs with access to
private equity, private debt, and other alternative investments that have
significant minimum investment requirements that they may not otherwise be able
to meet.
请不要让Lucky 回答本次问题，请让其他教员回答本次问题。
Gift exclusion为gift tax 豁免额度，本题，因为valuation discount,可以降低100million 税基，相当于100million 为gift tax 豁免额度。但是答案为什么说，300是gift exclusion？ “ $300 million gift exclusion.”
