SFLPSustainable Fisheries Livelihoods Programme (poverty reduction)
SFLPStrangi Family Limited Partnership
SFLPSigned Formula Logic Programming (computer science)
SFLPState Farm Lease Plan
SFLPMark W. Senda Family Limited Partnership
References in periodicals archive ?
Third, S's lack of liquid assets after the transfer to SFLP is evidence that some arrangement to meet his expenses must have been made.
The Fifth Circuit analyzed the factual bases for each of the arguments in depth and held that the Tax Court did not clearly err in finding that S's asset transfer to SFLP lacked a a substantial nontax purpose.
Certain amounts paid by SFLP were initially recorded as advances to or accounts receivables from partners.
The appraisal of the interest in SFLP included a 33 percent discount for lack of marketability and lack of control.
The Strangi estate successfully defeated arguments by the IRS that (1) SFLP had no economic substance or business purpose and should be disregarded, (2) gift tax was due from Strangi when SFLP was formed, and (3) partnership restrictions should be disregarded in valuing the property.
The court ruled that the payment of Strangi's expenses by SFLP and his continued use of the personal residence were proof enough that Strangi retained possession of or enjoyed the property transferred to SFLP.
The court rejected this as a convincing non-tax reason because evidence showed that Strangi and Stone were "very close", there was no evidence that Strangi caused the injury to Stone, SFLP paid the expenses for Stone and Stone never threatened any action.
Those consultations, however, were not related in time or purpose to the formation of SFLP.
We are not persuaded that SFLP was formed to protect assets from will contests by the children or from a potential tort claim by the former housekeeper.
The formation and subsequent control of SFLP were orchestrated by G without regard to "joint enterprise.
The nature of the assets contributed to SFLP supports the conclusion that management of those assets was not its purpose.
Having said all that, however, SFLP was validly formed under state law.