IAC22 BV - Valuation of Tax Receivable Agreements (TRAs)

Session Description

Financial sponsors and other sellers are increasingly using tax receivable agreements to monetize tax attributes of corporations being brought to market in initial public offerings (IPOs) and in private transactions. This presentation will explain what a TRA is, how it works, will go over some common types of TRAs, explain Step-up TRAs in a traditional Up-C IPO structure and in Private transactions. We will explain the impact of the 2017 tax reform on TRAs and present a valuation methodology along with a comprehensive example. We will close with the valuation challenges for TRAs.

Speaker

Harris Antoniades
Managing Director - Stout

Continuing Education

Review of this session recording will award 1 CE hour. 

CPE credit is not awarded for this pre-recorded offering.