Tax Issues in Transferring LLC and Partnership Interests

Navigating the Complex IRS Rules for Buying, Selling, or Redeeming Partnership Interests

A live 90-minute premium CLE/CPE video webinar with interactive Q&A


Thursday, December 16, 2021 (in 10 days)

1:00pm-2:30pm EST, 10:00am-11:30am PST

or call 1-800-926-7926

This CLE/CPE course will provide tax counsel and advisers with an overview of the tax rules that apply to the sale or transfer of an LLC or partnership interest. The panel will discuss common pitfalls and uncertainties in the tax code and outline best practices to structure transactions.

Description

For the unwary and unprepared, the tax treatment of LLCs and partnerships is fraught with confusion and problems. Ownership interests in these entities are comparable to corporate shares, but there are many important distinctions. Different rules determine tax basis, holding periods, and the character of gain or loss.

Evaluating the tax consequences of a sale or disposition of an LLC or partnership interest often requires considering whether the transferring interest is a profits interest or a capital interest, whether the interest is subject to vesting, and the character and holding period of the assets held by the partnership. To avoid unfavorable tax consequences, tax counsel must know how to evaluate tax treatment of LLC and partnership interest transfers.

Listen as our panel of experienced tax attorneys examines the complex tax rules for transferring LLC and partnership interests and best practices for structuring transactions to obtain desired tax outcomes.

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Outline

  1. Tax rules related to sales or transfers of LLCs or partnership interests
  2. Common issues and uncertainty related to the tax code
  3. Best practices

Benefits

The panel will review these and other key issues:

  • What are the tax differences in choosing between a sale or redemption of a departing partner's interest?
  • Will a sale or redemption of other partners create a taxable event for the remaining owners?
  • How is the character of gain or loss determined upon a transfer?
  • What are the holding period and basis rules for transfers of partial interests?
  • What is the impact of the net investment income tax?

Faculty

Mandarino, Joseph
Joseph C. Mandarino

Partner
Smith Gambrell & Russell

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

Wilson, Amanda
Amanda Wilson

Shareholder
Lowndes

Ms. Wilson concentrates her practice on federal tax planning and structuring and represents clients in a wide variety...  |  Read More

Attend on December 16

See NASBA details.

Cannot Attend December 16?

You may pre-order a recording to listen at your convenience. Recordings are available 48 hours after the webinar. CPE credit is not available on recordings. Strafford will process CLE credit for one person on each recording. All formats include course handouts.

To find out which recorded format will provide the best CLE option, select your state:

CLE On-Demand Video

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