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From C Corporation to Partnership: Key Tax Considerations for Changing Business Structure

Content Provider
American Law Institute CLE
Product
CLE
Run Time
87 Minutes
Recording Date
07/26/2023
Presenter(s)
Steven Schneider, Brian J. O’Connor
Learning Method
On-Demand Training
Practice Area
Corporate and Business Law

Price $259.00

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Description

A client’s business structure influences tax burdens, income streams, liability exposure, and more. Market changes and industry trends influence client needs sometimes significantly enough to prompt clients to restructure their business. Conversion are costly, but converting during an economic downturn, when gains and earnings are depressed, may offset client expenses. During this 90-minute video presentation our nationally recognized panel examines when C corporations should consider a conversion, the unique legal and tax considerations that need to be accounted for in the transaction to maximize client outcomes. Any change to a business tax status can have unintended consequences, both positive and negative. After attending this webcast you’ll be positioned to help clients make informed decisions about their entity structure and execute conversions with confidence. During this high-level presentation our faculty will cover: - The pros and cons of C corporations and when passthrough vehicles should be considered - Why it’s so difficult to get out of a corporate structure - What options are available for C corporations: spins, freezes, S corporation and REIT elections

Literature

State Status Total Credits Type Of Credit Approved Thru
AlabamaApproved1.00General12/31/2024
AlaskaApproved1.50GeneralOn-going
ArizonaApproved1.25GeneralOn-going
ArkansasApproved1.25GeneralOn-going
CaliforniaApproved1.25Participatory07/25/2028
ColoradoApproved2.00General12/31/2025
ConnecticutApproved1.25GeneralOn-going
DelawareApproved1.50General07/25/2025
FloridaApproved1.50Bias Elimination04/30/2025
HawaiiApproved1.25General07/25/2025
IdahoApproved1.50General07/25/2028
IllinoisApproved1.25General09/12/2025
IndianaApproved1.00General10/19/2024
IowaApproved1.25General07/25/2024
KansasApproved1.50General10/08/2024
KentuckyApproved1.50General06/30/2024
LouisianaApproved1.45General09/12/2024
MainePending State Response0.00
MinnesotaApproved1.25General09/20/2025
MississippiApproved1.50General09/12/2024
MissouriApproved1.70GeneralOn-going
MontanaApproved1.50General07/26/2026
NebraskaPending State Response0.00
NevadaApproved1.00General12/31/2026
New HampshireApproved1.50General08/22/2026
New JerseyApproved1.50GeneralOn-going
New MexicoApproved1.50General08/22/2028
New YorkApproved1.50SkillsOn-going
North CarolinaApproved1.25General12/31/2024
North DakotaApproved1.50General07/26/2026
OklahomaApproved1.50General10/22/2024
OregonApproved1.25General07/25/2026
PennsylvaniaApproved1.00General09/12/2025
Puerto RicoApproved1.45General12/03/2024
Rhode IslandApproved1.50General06/30/2024
South CarolinaPending State Response0.00
TennesseeApproved1.45General09/12/2024
TexasApproved1.25General09/30/2024
VermontApproved1.25GeneralOn-going
VirginiaApproved1.00General10/31/2024
WashingtonApproved1.25General09/30/2024
West VirginiaApproved1.74GeneralOn-going
WisconsinApproved1.50GeneralOn-going
WyomingApproved1.50General09/12/2024