Tagging a text with the label “classic” should not be done carelessly. But 50 years after its initial release, few would disagree that Revenue Ruling 59-60 deserves the title. Written in the spare, unadorned style of a government publication, the Ruling is a compact storehouse of enduring practical wisdom for business appraisers and the users of appraisal reports.
At Mercer Capital, we decided the 50th anniversary of the Ruling’s release was a fitting time to compile this book. Having been actively appraising privately held businesses for over 25 of the 50 years since the Ruling’s issuance, we find ourselves often returning to the Ruling, whether for guidance in novel situations or simply to confirm some intuition. In short, it is a trusted companion.
To review the chapter list, keep reading.