Description
A limited liability company’s operating agreement is more than just a framework for governance—it plays a pivotal role in determining tax treatment for both the LLC and its members. While many attorneys focus on ownership, decision-making, capitalization, and profit distribution, they often overlook the profound tax implications embedded within these agreements.
A well-structured operating agreement ensures tax efficiency while aligning with the members’ broader business and management goals. Are you confident in your ability to navigate these complexities and provide your clients with the best possible tax guidance?
It is essential that operating agreements for multi-member LLCs be comprehensive, taking into account the financial and working relationships of the members in a way that addresses the specifics of the business. Join us for this 60-minute webcast that focuses on the complex tax considerations involved when negotiating, drafting, and fine-tuning LLC operating agreements.
In this program, tax and corporate attorney Jason Navarino will discuss the various tax topics that a well-drafted operating agreement should cover, including:
> Entity Classification
> Allocations and distributions, including the forced or target allocation method for reconciling tax allocations and clients’ economic objectives
> Identifying and maximizing qualified business income
> Tax distributions
> Tax aspects of transfers
> Tax accounting, withholding, reporting, and audit provisions
> Profits interests v. capital interests for compensating service providers
This accredited legal education program from ALI CLE is for experienced attorneys, including tax attorneys as well as corporate attorneys who frequently work with LLCs, who want a better understanding of the tax mechanisms outlined in a comprehensive multi-member LLC operating agreement.