Corporate Taxes, Operating Agreements

Target LLCs as S Corporations: The Boilerplate Operating Agreement and the Importance of Revenue Procedure 2022-19

McDermott Will & Schulte on 6/4/2025

Many closely held businesses operate through entities classified as “S corporations,” an elective federal income tax regime that combines elements of corporate and partnership taxation. Among other reasons, S corporations are...more

Business Owner Exit Planning: LLC Operating Agreements

Miller Nash LLP on 9/8/2022

Limited liability companies (LLC or LLCs) are an attractive choice of entity for many non-public companies. An LLC is the preferred choice of entity for many advisors, including me, unless the facts warrant something...more

Tax Considerations for LLC Operating Agreements

Farrell Fritz, P.C. on 8/3/2020

July 30, 2020 The operating agreement is the governing document with respect to the management and conduct of a limited liability company (an “LLC”). It outlines the financial and functional decisions of the business and,...more

S Election Terminated as a Result of Form Operating Agreement Language

Mitchell, Williams, Selig, Gates & Woodyard,... on 5/7/2019

A limited liability company (an “LLC”) is a business structure created by state statute, but it is not a distinct business entity for tax purposes (like a partnership or a corporation). Instead, businesses structured as LLCs...more

Five Important Tax Highlights from 2018

Chambliss, Bahner & Stophel, P.C. on 3/21/2019

2018 was a very active year for tax developments. The big story was the application of the substantial reforms of the Tax Cuts and Jobs Act of 2017, which took initial effect in 2018. But there were several other developments...more

Lawyers on Tap: Tap Tips for Entity Formation and Taxation

Verrill on 5/8/2018

In this episode of Verrill Voices: Lawyers on Tap, Verrill Dana attorneys Jennifer Green and Jonathan Dunitz discuss the importance of entity formation to the overall success of a brewery business, and the differences between...more

Unpacking Your LLC: Tax Considerations in Limited Liability Company Liquidations

Smith Anderson on 3/31/2017

Has your LLC lost its luster? Has it outlived its usefulness as an asset management, asset protection, or, dare we say it, wealth transfer vehicle? Are you tired of discussing the company’s operations with the other owners?...more

U.S. Tax Court Ruling in State Conservation Tax Credit Case Requires Income Recognition

Williams Mullen on 4/22/2014

In its recently issued opinion in the case of Route 231, LLC v. Commissioner, T.C. Memo 2014-30 (2/24/14), the United States Tax Court (the “Court”) held that a transfer of state tax credits to a 1% member who had contributed...more

Corporate Taxes › Operating Agreements

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