LLCs: Latest Developments in Federal and State Tax Treatment

Navigating the Opportunities and Pitfalls of Series LLCs, L3Cs and New Tax and LLC Laws

Recording of a 110-minute CPE webinar with Q&A

Conducted on Wednesday, January 9, 2013

Recorded event now available

or call 1-800-926-7926
Program Materials

This teleconference will bring tax advisors up to speed on the current issues involving LLC formation and regulation changes they need to know now.

Description

Tax advisors who work with clients utilizing LLC structures have to keep current with considerable change. For example, the increasing popularity of series LLCs and low-profit LLCs (or L3Cs) also present a host of complex issues, as IRS regulation and state law with those entities evolves.

Also, the new 3.8% federal tax on investment income that starts next year has important implications for LLCs and S corporations — as do adoptions by states such as California and New Jersey of the Revised Uniform LLC Act (RULLCA). Other issues arise as more LLCs opt to be taxed like S corporations.

An overview of recent developments and trends at the federal and state levels involving taxation of LLCs will position advisors to work more effectively with clients as businesses increasingly opt to organize as LLCs.

Listen as our panelists examine the tax implications of the latest structures, laws and regulations involving LLCs.

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Outline

  1. Evolutions in LLC structures
    1. Series LLCs
      1. Latest states to approve them
      2. Proposed IRS regs on treatment of individual cells
    2. Low-profit LLCs (L3Cs)
      1. States now recognizing them
      2. Proposed IRS regs with new types of qualifying investments
  2. Developments in Congress and state legislatures
    1. New investment tax
    2. State RULLCA adoptions
  3. Issues arising from LLCs seeking S corporation treatment
  4. Trends with usage of LLCs in dealmaking

Benefits

The panel will address these and other important topics:

  • Where are the potential benefits of Series LLCs and L3Cs, and in what ways are they perhaps oversold?
  • What issues does federal tax reform present for businesses using LLCs?
  • As more LLCs opt to be taxed as S corporations, what complications should advisors expect?
  • How are LLCs being used lately in M&A and other dealmaking?

Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.

Faculty

Joseph C. Mandarino
Joseph C. Mandarino
Partner
Stanley Esrey & Buckley

Mr. Mandarino's practice focuses on corporate, tax and finance law. He is involved with a wide variety of...  |  Read More

Christopher McLoon
Christopher McLoon
Partner
Verrill Dana

He advises clients on structuring business transactions for favorable tax results. He has co-chaired drafting...  |  Read More

Immerman, Andrew
L. Andrew Immerman
Partner
Alston & Bird

Mr. Immerman concentrates on federal income tax matters, including domestic and international tax planning and...  |  Read More

Saba Ashraf
Saba Ashraf
Partner
McKenna Long & Aldridge

She concentrates on the structuring and effecting of complex business transactions. Her practice focuses on corporate...  |  Read More

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