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About this Product
The limited liability company has become the entity of choice in business and estate planning because it is the most flexible limited liability form of entity. Most estate planners, however, have numerous clients who operate as corporations taxed under subchapter C or subchapter S. Is it possible to convert corporations to limited liability companies to achieve a more flexible governance structure without triggering adverse tax consequences? This panel will explore the benefits of such a conversion and the road map to use to avoid a bad tax result. This presentation will:
examine the tax aspects of limited liability companies
compare them with C corporations and S corporations
work through the process of converting to an LLC
address concepts such as super majority voting restrictions and their durability
examine asset protection issues and how LLCs fit into that analysis
review what state and local tax issue may need to be considered
provide a sample form operating agreement for an LLC
address requisite IRS filings and the "check-the-box" regulations
Faculty:
William S. Forsberg -- Leonard, Street and Deinard, Minneapolis, MN James D. Spratt, Jr. -- The Bowden Spratt Law Firm, Atlanda, GA Douglas W. Stein -- Smith, Gambrell & Russell, Atlanta, GA
