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Limited Liability Company (LLC) › Passive Activity

Eversheds Sutherland (US) LLP

California Court of Appeal Holds Doing Business ≠ Any Activity Engaged In for Pecuniary Gain

Eversheds Sutherland (US) LLP on

On January 12, 2017, the California Court of Appeal held in a published opinion that a taxpayer passively holding a 0.2 percent interest in a California-based limited liability company (CA LLC) was not “doing business” in the...more

Parker Poe Adams & Bernstein LLP

Limited Liability Company Member Not an Employer Under NC Wage and Hour Act

Parker Poe Adams & Bernstein LLP on

The North Carolina Wage and Hour Act imposes liability on employers for failure to pay promised wages. The law is modeled after the federal Fair Labor Standards Act, and like the FLSA, individual managers and officers of a...more

Troutman Pepper

In Frank Aragona Trust, Tax Court Holds that Trustees’ Activities as Employees Count for Purposes of Material Participation Under...

Troutman Pepper on

The issue of whether a trust has passive or non-passive income from its investment in a pass-through entity has taken on increased importance in light of the tax imposed on net investment income under Code Section 1411 of the...more

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