News & Analysis as of

Limited Liability Company (LLC) Tax Liability

Lasher Holzapfel Sperry & Ebberson PLLC

Family Investment Vehicles in Limbo: Awaiting Department of Revenue Guidance

The legal landscape for family investment vehicles in Washington shifted dramatically after the Antio LLC v. Department of Revenue decision of the Washington Supreme Court. In Antio the taxpayers were a group of investment...more

Morgan Lewis

No Gift Tax on Increases in the Value of Shares in the Case of Shareholder-Allocated Contributions

Morgan Lewis on

In a proceeding for suspension of enforcement, the Federal Fiscal Court (BFH) has concluded that also disproportionate contributions into the capital reserve do not constitute a gift tax-relevant increase in the value of...more

Rivkin Radler LLP

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

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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

Dickinson Wright

Tax Considerations in Analyzing Offers from Practice Groups

Dickinson Wright on

Although in prior articles in this publication, I addressed tax issues faced by physicians and other practice groups, the purpose of this article is to guide physicians and other medical professionals as they compare the...more

Falcon Rappaport & Berkman LLP

The Wyoming DUNA and the Future of DAO Legal Frameworks

Choosing the right legal structure for a decentralized autonomous organization (DAO) can make or break a web3 project before it deploys. From tax efficiency and governance mechanisms to liability protection and regulatory...more

Hone Maxwell

Why Some International Entrepreneurs Use U.S. LLCs Without Paying U.S. Tax

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In the increasingly global world of online business, it’s not unusual for entrepreneurs, freelancers, and consultants to seek a business structure that supports international operations, offers stable banking options, and...more

Goodwin

UK Salaried Member Employment Tax Rules - Recent Developments

Goodwin on

This client alert discusses recent developments relevant to members of UK LLPs in respect of the UK’s salaried member employment tax rules. In particular, it focuses on recent developments in relation to Condition B (the...more

Mayer Brown

Précisions sur les conditions de requalification d’une convention de management fees en acte anormal de gestion

Mayer Brown on

La Cour administrative d’appel de Marseille, statuant sur renvoi du Conseil d’État, a estimé que la société ne démontrait ni l’existence de prestations effectives distinctes de celles de son gérant, ni une volonté claire de...more

Warner Norcross + Judd

Buying a Yacht? Navigating the Legal Waters

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The purchase of a yacht is a significant financial investment that requires navigation of a multitude of legal issues. Consultation regarding these issues, as well as tax, liability protection and venue location, should all...more

Mayer Brown

Evaluation des titres de sociétés et libéralité entre sociétés liées

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Dans un arrêt du 6 mars 2025, la Cour administrative d'appel de Bordeaux s'est prononcée sur la méthode mathématique d'évaluation de titres de SCI utilisée par l'administration, ainsi que sur la caractérisation d'une...more

Hinshaw & Culbertson - Lawyers' Lawyer...

So, You Made a Mistake. Do You Need to Tell Your Client?

Consider the following hypothetical. A corporate client hires a lawyer in connection with purchasing a controlling interest in an LLC. The lawyer structures the deal to lower the client's tax liability based on his assumption...more

Tannenbaum Helpern Syracuse & Hirschtritt LLP

Establishing a Subsidiary in the U.S. - A Nordic Perspective

This note only addresses subsidiaries of Nordic companies. Branch offices are rarely attractive for foreign companies because they result in direct exposure for the foreign company to liability in the U.S. and jurisdiction by...more

Rivkin Radler LLP

NYC Transfer Tax, Charities, and Single Purpose LLCs – Are Lenders Beneficiaries?

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According to the New York City Comptroller, the City collected approximately $1.13 billion in Real Property Transfer Tax (“RPTT”) in the FY 2024. The Comptroller’s Office has forecast that $1.21 billion of RPTT will be...more

Rivkin Radler LLP

Business Owner Borrows from Their Private Foundation – A Different Form of “For Profit Philanthropy”?

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Many successful business owners attribute some part of their success to their community. For some of these owners, it is not enough to simply acknowledge this “debt”; they feel an obligation to share some of their financial...more

Skadden, Arps, Slate, Meagher & Flom LLP

Members of UK LLPs and Significant Influence: Commentary on HMRC v. BlueCrest Capital Management (UK) LLP

On January 17, 2025, the UK Court of Appeal (Court) released its decision on whether certain members of BlueCrest Capital Management (UK) LLP (BlueCrest) should be taxed as employees under the UK “salaried members” rules (the...more

Rivkin Radler LLP

Not Aware of Your Business Partner’s Tax Situation? Maybe You Should Be

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If you’ve worked with the owners of closely held businesses for even just a few years, you have realized they are only half joking when they complain about having the government as a partner. Consider how much federal, state,...more

Offit Kurman

The Hidden Cost of Failing to Plan

Offit Kurman on

Art and collectibles, while beautiful and culturally significant, can pose significant estate planning challenges. At the time of death, these assets are subject to estate taxes based on their fair market value. Without...more

Rivkin Radler LLP

Expiring Federal Transfer Tax Benefits – Nothing is Certain or Lasts Forever

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Just a few weeks ago, many individual taxpayers, driven by what they viewed as the relatively imminent expiration of the enhanced federal transfer tax exemptions, sought advice on how to leverage their remaining exemption and...more

Foodman CPAs & Advisors

Pass-Through Entities are Under Scrutiny by IRS

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On 10/22/24, the IRS announced that is has officially commenced operations of the newly established pass-through field operations unit within its Large Business and International (LB&I) division, which was announced last...more

International Lawyers Network

Establishing a Business Entity in Mexico (Updated)

I. General Overview - As of 2020, Mexico has a population of 126,014,024 according to the Mexican National Institute of Statistics and Geography (Instituto Nacional de Estadística y Geografía). Covers a land area of...more

Hinckley Allen

Converting an LLC to an S Corporation: A Mistake Waiting to Happen

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Limited liability companies (LLCs) offer significant tax flexibility – for one thing they can elect to be treated as disregarded entities, partnerships, C corporations, or S corporations, and can even shift between those tax...more

Rivkin Radler LLP

N.Y. Sales Tax – Responsible Person Liability

Rivkin Radler LLP on

NY Needs the Revenue- A couple of weeks ago, the Tax Foundation released its latest “State Business Tax Climate Index,” which assesses a state’s tax system and compares it to that of other states. New York seems to be a...more

Stoel Rives -  Ahead of Schedule

Washington’s Capital Gains Tax and Its Implications on the Transfer of Ownership Interests in Entities That Own Real Property

In addition to Washington’s real estate excise tax (REET), transferors of ownership interests in entities that own real property in Washington must also factor in Washington’s capital gains tax when making such transfers. ...more

Troutman Pepper Locke

Rolling Over and Section 704(c); What’s the Big Deal? — Part 4: The Remedial Method

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In our continuing series on Section 704(c) of the Internal Revenue Code (the Code) we discuss the application of the remedial method to correct for distortions caused by the ceiling rule. As previously discussed, when the tax...more

Cadwalader, Wickersham & Taft LLP

Entity Conversion Under State Law Is Not a Modification of Debt

After almost 20 years, the IRS has again ruled that the conversion under state law of a limited liability company (LLC) disregarded for tax purposes to a corporation did not result in a “significant modification” of the...more

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