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Internal Revenue Code (IRC) Taxation Limited Liability Company (LLC)

Holland & Knight LLP

Conversion of Partnership and LLC Interests into Qualified Small Business Stock

Holland & Knight LLP on

Given the recent amendments to Internal Revenue Code Section 1202,1 which increase the benefits of holding qualified small business stock (QSBS), many companies currently operating as tax partnerships may want to convert into...more

Rivkin Radler LLP

Drop & Swap Like-Kind Exchange Passes Muster in New York

Rivkin Radler LLP on

New York’s personal income tax law, like that of other states, conforms with the federal system of income taxation. The reason typically given for such conformity is to simplify tax return preparation, improve compliance and...more

McDermott Will & Schulte

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

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

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