What does FOBI stand for?

Family-Owned Business Interest (taxes)

This definition appears very rarely and is found in the following Acronym Finder categories:

Military and Government
Business, finance, etc.

Other Resources:

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Fetal Organ Blood Flow Friends of Barnabas Foundation Fund of Bond Funds Federation of British Fire Organisations Fellowship of Brethren Genealogists (Church of the Brethren) Fiber Optic Bragg Grating Friends of Burnley Gardens (University of Melbourne; Melbourne, Victoria, Australia) Friends of Baltimore Hostel (Baltimore, MD) Friends of Beacon Hill (Beacon Hill Civic Association; Boston, MA) Friends of Belmar Harbor, Inc. (Belmar, NJ)		Fear of Being Included Flight Officer Biographical Inventory (Aviation Selection Test Battery) Fourth-Order Blind Identification Friends of Belle Isle (Detroit, MI) Fiber Optic Biospecific Interaction Analysis Friends of the Belle Isle Aquarium (est. 2005; Detroit, MI) Friends of Brain Injured Children of Queensland (Australia) Frequently Outwitted By Inanimate Objects Federation of British International Schools in South and East Asia Friends of the Black Jack Battlefield (Kansas)

Samples in periodicals archive:

The Tax Court recently held that a note does not constitute a qualified family-owned business interest (QFOBI) for purposes of IRC [section] 2057, which allows an estate to deduct up to $675,000 from its value for estate tax purposes.

All in the family?

This exemption, a qualified family-owned business interest, went into effect in 1997.

Planning ahead: while controversy and uncertainty about the estate ...

Hence, structuring tax-efficient lifetime transfers of family-owned business interests (such as family partnerships and s corporations), will continue to challenge us into the foreseeable future.

Tax-efficient wealth transfers: low interest rates offer ...

2033A qualified family-owned business interest (QFOBI) exclusion included in the IRS Restructuring and Reform Act of 1998 (IRSRRA '98) and the permanent extension of Sec.

Significant recent developments in estate planning

Estates that include such family-owned business interests may exclude from the taxable estate the value of those interests to the extent that the exclusion, plus the amount excluded by the unified credit, does not exceed $1.

Making sense of the Taxpayer Relief Act of 1997

A qualified family-owned business interest is defined as any ownership interest in a United States trade or business, regardless of the form of entity, if the ownership of the trade or business is held 1) at least 50 percent by one family; 2) 70 percent by two families; or 3) 90 percent by three families.

Estate, gift, and trust tax changes made by Taxpayer Relief Act of ...

3 million of value in qualified family-owned business interests from a decedent's taxable estate.

Remember the 1997 Tax Reform Act? Ernst & Young Reminds Taxpayers of ...

FAMILY-OWNED BUSINESS EXCLUSION In addition to the discount for business real estate, a business owner who dies after December 31, 1997, may transfer certain family-owned business interests to qualified heirs partly or completely free of federal estate taxes.

Postmortem estate planning for small business owners