The Connelly Decision’s Impact on Business Owners

In a landmark decision, the United States Supreme Court rendered its verdict in the case of Connelly v. United States, significantly impacting the landscape of buy/sell agreements for business owners nationwide. The case revolved around the tax implications of a buyout arrangement between business partners and the way in which the Internal Revenue Service interpreted such agreements. This ruling holds crucial ramifications for entrepreneurs and established closely-held businesses alike, so let’s dive in and take a look in Estate Planning Specialist, Sean Link, JD’s latest article.