Planning with Single Member LLCs, Part 1 and Part 2 Out of Stock
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September 2018
Tuesday & Wednesday, September 11 & 12, 2018
Planning with Single Member LLCs, Part 1 and Part 2
Program Description
Single Member LLCs are among the most flexible vehicles in business and real estate transactions. Creatures of state law, they are “nothing” for federal income tax purposes. They can be used to minimize tax and liability with maximum organizational flexibility. They may be used in conjunction with S Corps and general partnerships in business and real estate transactions. They also have substantial uses as charities/non-profits and in trust and estate planning. But there are also substantial limits and traps. Among the traps is that their limited liability can be pierced more easily through equitable doctrines to personal liability. There are also many potential tax traps. This program will provide you with a real-world guide to organizing and using Single Member LLCs in transactions.
Day 1 – September 11, 2018:
- Planning with Single Member LLCs (SMLCCs) – business, tax, real estate, estate planning
- Classification of LLCs for income tax purposes – what does “nothing” mean?
- Formation and organizational issues – how they differ from multi-member LLCs
- Relationship to S Corps – as owners, as subsidiaries, as Single Member LLCs themselves
- Single Member LLCs as charities or as property of charities – and gifting issues
- Merger and acquisition issues involving Single Member LLCs
- Series LLCs as an alternative to commonly owned Single Member LLCs
Day 2 – September 12, 2018:
- Changes in tax classification of Single Member LLCs
- Single Member LLCs and general partnerships – which may own which?
- Piercing the veil of a Single Member LLC
- Compensation issues and traps
- Use of charging orders against Single Member LLC distributions
- Use of SMLCCs in real estate transactions, including Like-Kind Exchanges
Faculty:
Leon Andrew Immerman is a partner in the Atlanta office of Alston & Bird, LLP, where he concentrates on federal income tax matters, including domestic and international tax planning and transactional work for joint ventures, partnerships, limited liability companies and corporations. He formerly served as chair of the Committee on Taxation of the ABA Business Law Section and as chair of the Partnership and LLC Committee of the State Bar of Georgia Business Law Section. He is also co-author of “Georgia Limited Liability Company Forms and Practice Manual” (2d ed. 1999, and annual supplements). Mr. Immerman received his B.A., magna cum laude, from Carleton College, his M.A. from the University of Minnesota, and another M.A. and his Ph.D. from Princeton University, and his J.D. from Yale Law School.
Lee Lyman is a shareholder in the Atlanta office of Carlton Fields, where she has more than 20 years' experience in corporate and real estate transactions. She provides corporate and transactional advice, with an emphasis on advising clients engaged in ongoing business transactions, including joint ventures, mergers and acquisitions, and business restructurings. She has extensive experience in LLC and partnership law, organization, structure, and operations. She has extensive experience structuring equity and debt financing for the acquisition, development and sale of real estate and in general corporate transactions. Ms. Lyman received her B.S. from Florida State University, her M.A. from the University of Pittsburg, her J.D. from Duke University School of Law.
Each program will run from 11:00 a.m. to 12:00 p.m. M.T. (60 minutes each).
- CLE Pass Price *FREE! - exclusions may apply
- Standard Price $109.00 USD
- Member Price $79.00 USD
- General Credits 2.00
- Ethics Credits
- EDI Credits