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                     2nd Quarter, 2016
Business Advisor
In this issue...
Series LLCs:  Could a Uniform Protected Series Act Be Coming Soon? -- Part II
In Part I, some of the history and issues surrounding series LLCs and their application were discussed; in Part II, we investigate more recent developments, including a look at the status of the Uniform Protected Series Act currently under consideration by the National Conference of Commissioners on Uniform State Laws (“NCCUSL"). 

While still a largely unfamiliar entity outside the investment fund context, the adoption of a uniform protected series LLC act would likely lead to more widespread acceptance and use of series LLCs throughout the United States. Substantial progress on the uniform act has been made in the past year, and attorneys may experience an uptick in client interest in series LLCs.  Read more »

Getting Appreciated Real Estate Out of C Corporations -- Part II
As discussed in the first part of this series, C corporations are tax-inefficient forms of business. C corporation income is taxed twice—once when it is earned, and again when it is distributed to the shareholders. To avoid this double taxation, most newly formed businesses use pass-through entities like S corporations or limited liability companies (LLCs) to own real estate

This article discusses the use of conversions to move appreciated real estate from C corporations into more tax-efficient business structures. A conversion changes the tax classification of the C corporation to either an S corporation or to an LLC. This can avoid double taxation of future appreciation in value and may avoid double taxation altogether.  Read more »

Did You Know...

Farmers give
egg yolks a
sunny boost
of color with...
- Marigold Petals
- Chalk
- Yellow Dye #5
- Yellow Ochre


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