Federal
Income
Tax
Education
Seminars

James R. Hasselback
Professor of Taxation
Florida State University

THE LIFE CYCLE OF LLCs WITHIN PARTNERSHIP TAXATION

LLCs are the only business entity that allows complete pass-through tax advantages and the operational flexibility of a partnership. This seminar addresses the inner workings of Limited Liability Companies within the partnership taxation rules. We will also tackle issues of corporation-style limited liability under state law and how to engage all members in management decisions. LLC's are fast becoming the entity of choice for start-up companies -- arm yourself with this crucial information for the 21st century.

The outline for the course is as follows:

• Limited Liability Companies (LLCs) as a New Business Alternative
  
• Limited Liability Under LLCs
  
• Formation Requirements of LLCs
  
• Transfer of LLC Interests
  
• Foreign LLCs
  
• Other Partnership Forms
  
• Contributions to Capital and Admission of Members
  
• Basis after Contribution to Capital
  
• Partnership Tax Year
  
• Partnership Income, Losses, Deductions, Credits, Etc.
  
• Self-Employment Tax Rules Applied to LLC Members
  
• Loss Limitations
  
• Special Tax Reporting of Partners
  
• Partner-Partnership Transactions Under Section 707
  
• Distributions by Partnership
  
• 751 Distributions - Hot Assets
  
• Optional Basis Under Section 754
  
• Dissolution of the LLC
  
  
  

To schedule your group's private tax seminar, give us a call at 1-850-894-2244 or email us at jhassel@cob.fsu.edu.