Limited Liability Partnerships

News & Analysis as of

New Audit Rules for Partnerships

Last week, President Obama signed into law the Bipartisan Budget Act of 2015.  Buried in this budget bill is an entirely new procedure for how partnerships are audited.  Specifically, it would repeal the  much maligned TEFRA...more

Goodbye TEFRA, Hello New Partnership Audit Rules

Last week, President Obama signed into law the Bipartisan Budget Act of 2015. As I mentioned in a prior post, the budget bill contained a proposal to revamp how partnerships are audited. Specifically, TEFRA (the 1982 Tax...more

Last Week's Budget Bill Drastically Changed the Audit Rules for Partnerships

Last week, President Obama signed into law the Bipartisan Budget Act of 2015. While there has been news coverage about the budget agreement, little attention has been paid to the fact that it dramatically changed the manner...more

Companies Can Claim Discrimination

In EAD Solicitors LLP v Abrams UKEAT/0054/15/DM, the Employment Appeal Tribunal (EAT) considered whether an age discrimination claim could be brought by a company rather than an individual....more

Washington LLC Act: How Family Businesses Are Affected

Embracing change is tough, because it rarely hugs you back. But the recent changes to the Washington State LLC Act (RCW Chapter 25.15) at least have some provisions that are affectionate toward family businesses and LLCs in...more

UK Corporate Briefing - Issue 3 - Autumn 2015

Welcome to the latest edition of Dentons' UK Corporate Briefing, a quarterly summary of the most significant recent and forthcoming developments in company law and corporate finance regulation in the UK. Please see full...more

New Regulations Expected this Fall May Limit Valuation Discounts in Certain Asset Transfers

For high-net worth individuals – particularly those whose assets include closely-held business interests or family investment entities – anticipated changes in the valuation of those assets for estate and gift tax purposes...more

LLP Agreements and Repudiatory Breach

This OnPoint reports on a recent important High Court decision ?limiting the remedies available for breach of a UK LLP agreement. Generally, in contract law, if a party to a contract commits a breach which is...more

2015 Amendments to Delaware Alternative Entity Acts

New amendments affect Delaware general partnerships, limited liability partnerships, limited partnerships and limited liability companies. On July 24, Delaware Governor Jack Markell signed into law several amendments to...more

2015 Changes to the Minnesota Business Corporation Act

On August 1, 2015, House Bill H.F. No. 385, which was signed into law by Governor Mark Dayton in May 2015, will become effective. The new law streamlines the process for executing cross-entity and cross-border conversions...more

Ontario Ministry’s Expert Report Recommends Big Changes to Province’s Corporate Laws

On July 9, 2015, an expert panel convened by the Ontario Ministry of Government and Consumer Services (MGCS) released their final report (the Expert Report) containing many broad recommendations on how to modernize Ontario’s...more

Guide To Doing Business in Australia: Major Forms Of Business Organisation (Update)

A foreign company or investor proposing to establish a business in Australia may choose from a number of different entities or forms of business organisation. Each of these forms has its advantages and disadvantages....more

What Form Should Your Law Practice Take?

When starting your own law practice in California, one of your first decisions is what business form to use—should your practice be a sole proprietorship, a partnership, or a corporation? Don’t underestimate the importance of...more

UK Supreme Court Says Members of Limited Liability Partnerships are Workers

Ruling implies that additional protections will be afforded to members of LLPs. The UK Supreme Court recently ruled that members of a limited liability partnership (an LLP) are workers for the purpose of protections...more

UK Supreme Court Rules That LLP Members Benefit From Whistleblower Protection

The UK Supreme Court has ruled in Clyde & Co LLP and another v Bates van Winkelhof that members of Limited Liability Partnerships (LLPs) are to be treated as “workers” and therefore are covered by the protections which UK law...more

A Member of a Limited Liability Partnership Can be a “Worker”

Background - The rights conferred on an individual working in the UK depend on his or her employment status. An individual can be: (a) an employee; (b) self-employed; or (c) a “worker”. Employees enjoy the greatest...more

UK Employment Law and Share Incentive Developments - Spring 2014

Changes to LLP member taxation and employee incentive schemes could have wide ranging implications for UK employers. Background – As always 6 April means a new UK tax year and a raft of employment and...more

California Court of Appeal Makes It Easier to Add Business Owners to a Judgment

Individuals form limited partnerships, limited liability companies and corporations to limit their personal liability. These legal structures encourage entrepreneurs to take risks. The California Court of Appeal, Second...more

UK Tax Shake Up for Partnerships

In light of tax changes proposed for April 2014, partnerships may need to reconsider their members’ classification and/or duties to maintain the most tax efficient positions. The UK Government’s recently published...more

Amendments to Kazakhstan’s Registration Law

Key changes affect the registration and re-registration of legal entities in Kazakhstan. ...more

Doing Business in Canada: Forms of Business Organization in Canada

Canadian business laws are well developed. Several different types of business structures are available in Canada. Each features unique advantages and disadvantages. Business Corporations - The corporation is the...more

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