Limited Liability Companies

News & Analysis as of

What Are the New Partnership Audit Rules?

The recently enacted Bipartisan Budget Act of 2015 amended the existing rules governing tax audits of partnerships in the U.S. Who Does this Effect and When? The new rules primarily impact partnerships with more...more

Partnership Audit Regime Shakeup

The recent Bipartisan Budget Act of 2015 (the “Act”) sets forth a new tax audit regime for partnerships (and limited liability companies taxed as partnerships) that will have far-reaching consequences. The new audit...more

What Vote Should Be Required To Pull The Plug On An LLC?

There are three paths to dissolution under California’s Revised Uniform Limited Liability Company Act (RULLCA). First, an event of dissolution set forth in a written operating agreement or the articles of organization may...more

UK Financial Regulatory Developments - January 2016 #14

Treasury Committee publishes banking IT failure correspondence - The Treasury Committee has published correspondence between Andrew Tyrie, PRA, FCA and between him and RBS, HSBC and Barclays, relating to IT failures at...more

UK Companies Must Disclose Beneficial Owners

From April 2016, UK companies will be required to maintain a publicly available register of people who have “significant control” over them. This new register is part of a wider movement to increase transparency around who...more

New rules for transferring shares in Russian limited liability companies and immovable property

On 29 December 2015, Federal Law No. 391-FZ, which introduces new rules for transferring shares in LLCs and immovable property ("Law"), was signed. Some of the relevant changes are summarised in this alert. ...more

PECO Logistics, LLC v. Walnut Investment Partners, L.P., et al., C.A. No. 9978-CB (Del. Ch. Dec. 30, 2015) (Bouchard, C.)

In this opinion, the Court of Chancery resolved a dispute regarding a put right in an LLC agreement between PECO Logistics, LLC (“PECO”), a Delaware limited liability company, and two of its preferred equity holders, Walnut...more

Washington’s New Limited Liability Company Act –What to Know

Washington’s new Limited Liability Company Act became effective on January 1, 2016. The new Act introduces several changes to the previous laws that LLC managers and members should be aware of as we begin 2016. This update...more

Illinois Claim for Aiding and Abetting Client's Breach of Fiduciary Duty Time-Barred

Brief Summary - The plaintiff, a shareholder of limited liability company (LLC), filed an action against a law firm and one of its lawyers, alleging they aided and abetted other shareholders in breaching their fiduciary...more

Recent revisions to partnership audit rules will affect existing and future tax partnerships

Congress recently passed the Bipartisan Budget Act of 2015. Among its revenue-raising provisions is a repeal of the current tax matters partner (TMP) rules with regard to tax audits of, and tax adjustments concerning,...more

Use of a Limited Liability Company for Charitable Purposes

On December 1, Mark Zuckerberg wrote a letter to his newborn daughter, Max, and shared it with the world (on Facebook, of course). The letter announced the commitment of Zuckerberg and his wife, Priscilla Chan, to improve the...more

New Saudi Companies Law Approved

2015 has seen a number of interesting legal developments in Saudi Arabia, particularly from a foreign investment perspective. As well as the approval of the new Companies Law 1437H/2015G (the “NCL”), which will be of interest...more

Australian Tax Alert: Innovation Nation?

The Government's National Innovation & Science Agenda (Innovation Agenda), released on 7 December 2015, sets out a number of proposed changes aimed at improving the regulatory and tax landscape for start-ups in Australia....more

Investing in Morocco

Over recent years, Kingdom of Morocco has created a legal and regulatory framework very attractive for foreign investors. In addition to its political stable environment, a recent series of tax treaties with numerous...more

Creating a Social Network of Tax Savings: The Use of LLCs in Structuring Philanthropic and Public Good Activities

The use of a limited liability company (LLC) by Mark Zuckerberg and his wife Priscilla Chan as the vehicle for advancing of “philanthropic, public advocacy, and other activities for the public good” has recently received a...more

LLCs: A New Horizon for Charitable Giving?

When Mark Zuckerberg recently announced that he was giving away up to 99 percent of his Facebook shares (valued at approximately $45 billion), he was severely criticized for it. Zuckerberg and his wife created the Chan...more

Kyiv Corporate Newsletter (Ukrainian) - December 2015

On 24 November 2015 the Verkhovna Rada of Ukraine adopted a number of important laws, specifically: The Law of Ukraine “On Amendments to Article 60 of the Law of Ukraine “On Business Companies” concerning the reduction...more

Kyiv Corporate Newsletter- December 2015

On 24 November 2015 the Verkhovna Rada of Ukraine adopted a number of important laws, specifically: The Law of Ukraine “On Amendments to Article 60 of the Law of Ukraine “On Business Companies” concerning the reduction...more

HMRC Responds to Landmark Case on UK Tax Treatment of Delaware LLCs

Business as usual for UK taxpayers following Supreme Court decision in Anson v HMRC? HM Revenue and Customs (HMRC) has published its response to the UK Supreme Court’s decision in the landmark double taxation case of...more

California Amends LLC Law, Eases Lender Obligations

Why it matters - Earlier this month, California Governor Jerry Brown signed into law Assembly Bill 506, a measure that amended the state's Revised Uniform Limited Partnership Act, making it easier for lenders to make...more

2009 Caiola Family Trust v. PWA, LLC, C.A. No. 8028-VCP (Del. Ch. Oct. 14, 2015) (Parsons, V.C.)

In this 91-page post-trial opinion addressing a dispute between members of a Delaware limited liability company formed to own and operate a residential apartment complex in Kansas, the Court of Chancery held that the...more

Court Of Chancery Declines Stay In LLC Advancement Case

Tulum Management USA LLC v. Casten, C.A. 11321-VCN (November 9, 2015) - A Delaware court will not stay its hand in favor of litigation elsewhere in an advancement or indemnification case absent “exceptional...more

Before Selecting Business Form, What Is Important To Consider? P.2

In our last post, we began discussing the importance of careful planning when selecting the legal form one’s business will take. As we noted, this decision can impact a number of aspects of the business and its owners. The...more

Sweeping Change to Partnership Tax Audit Procedures

A major change to partnership audits was signed into place by President Barack Obama on November 2nd following the passage of the Bipartisan Budget Act of 2015 by Congress on October 30th. Previously, partnerships with more...more

Bipartisan Budget Act of 2015 Changes Audit Rules for Private Equity and Hedge Funds

On November 2, 2015, the United States Congress enacted the Bipartisan Budget Act of 2015 (the Act) to fund the federal government. Among other provisions, the Act significantly modifies how the Internal Revenue Service (IRS)...more

185 Results
|
View per page
Page: of 8

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×