Federal Tax Classification of Series LLCs

Date Held: October 19, 2012

Start Time: 1:00 PM ET

End Time: 2:30 PM ET

Credits: AIPB, CAC, CLE (Please check the Detailed Credit Information page for states that have already been approved), CPE, Enrolled Agents, RTRP, Additional credit may be available upon request. Contact Lorman at 866-352-9540 for further information.

The series LLC may be the solution to issues that confront federal tax practitioners. For example, the series LLC is very useful in situations where long and expensive regulatory processes are involved with a new state law entity. The series LLC also can be used in asset backed securitizations in place of business trusts in those states that treat single member LLCs as disregarded entities but do not treat business trusts as disregarded. It can also be useful for estate planners to avoid multiple LLCs when the senior generation wants different treatment and ownership for their assets. This live audio conference will review the history of the series LLC and the Internal Revenue Service’s rulings and regulations that address the classification of the series LLC, including practical problems caused by the requirements of the IRS classification rules. In addition there will be an update on selected state law treatment and a discussion of some of the potential pitfalls in the usage of series LLCs.

Other areas of interest