Thursday, October 18, 2018

Business Valuation Insights - Fourth Quarter 2018

Investment Banking

The Impact of Tax Law Changes on Business Valuations: Five Takeaways Almost One Year Later

By:James A. Gravitt, CPA, CBA, ABV, CFE

While business appraisers have learned a lot about valuing privately held businesses under the new tax law (“the TCJA”), it would be a mistake to say that we have overcome all of the challenges. Here is an overview of the TCJA and how it has affected business valuation (so far).

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Fair Value in Kentucky: Fair to Whom?

By: Elizabeth Egan, Investment Banking Analyst

We recently concluded a business valuation project for a Kentucky company relating to the sale of one of its major divisions. The project required us to consider carefully the nuances of the fundamental valuation concepts of “fair market value” and “fair value” in Kentucky. The distinction proved crucial in a subsequent dispute between our client company and some of its dissenting shareholders, who sought a far higher price per share than they had been paid.

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Court Case Insights

Here are some recent court cases involving business valuations and business damages that we found interesting. 

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Our Value Proposition - "Real World" Valuation

Hilliard Lyons Investment Banking brings a special perspective to business valuation engagements via continuous "real world" exposure to the market that is obtained through our mergers and acquisitions practice.  While we possess recognized valuation credentials, adhere to valuation standards, and have substantial valuation experience, we believe it is our experience in the market for buying and selling businesses that is the critical factor grounding our valuations in reality.