AEGIS Law attorney Norm Newmark presented a CLE seminar, sponsored by NBI, on January 20, 2017. The program was titled Tax Election Considerations, Tax Provisions and Other Key Issues.
What the program covered
The program asked when an LLC should elect to be taxed as a disregarded entity, a partnership or a corporation. It also covered the tax consequences of selling LLC interests and the best ways to structure tax-related provisions in an operating agreement.
The goal was to give attorneys practical insights and pointers. That way they could help clients capitalize on tax opportunities, understand tax impacts and avoid common pitfalls.
The program was built to help attendees:
- Examine the tax advantages and disadvantages of different business entities.
- Delve into LLC basis, capital gain, net investment income tax and other tax issues.
- Get details on tax allocation provisions of LLC operating agreements.
Who the program was for
The program was designed for attorneys. Accountants and paralegals could also benefit.
Course content
- LLC Formation; Key Considerations When Evaluating Choice of Entity Options
- LLCs Taxed as Partnerships
- Single Member LLCs Taxed as Disregarded Entities
- LLCs Taxed as “S” or “C” Corporations
- State Tax Considerations
- Tax Election Forms and Default Rules
- Non-Tax Considerations
- Sale of LLC Interests: Tax Consequences and Opportunities (LLC Basis, Capital Gain, Net Investment Income Tax, etc.)
- Operating Agreements: Structuring Tax Provisions
Strategic Engagement
Consult with our Managing Partner.
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