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Limited Liability Company (LLC) New Regulations

Conyers

The Impact of Cayman’s Revised Beneficial Ownership Regime on Trusts and Private Wealth Structures

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The Cayman Islands is in the process of implementing fundamental changes to its beneficial ownership regime. Most significantly, these include the removal of exemptions applicable under the previous regime, as well as more...more

Holland & Hart LLP

Navigating Corporate Veterinary Practices in California: A Look at AB 1535 and LLCs

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Pet owners in California pamper their pets: According to DollarGeek, Californians spend more on their animal companions than pet owners in any other state, and their expenditures include medical care. This fact alone (not to...more

Husch Blackwell LLP

Transparency Cloaked in Complexity: Final Rules Issued Under the Corporate Transparency Act

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On September 29, 2022, the Financial Crimes Enforcement Network (FinCEN) issued final regulations implementing the reporting requirements of the Corporate Transparency Act of 2020 (CTA) which will become effective on January...more

Keating Muething & Klekamp PLL

Corporate Transparency Act Update—FinCEN Issues Final Rule

On September 29, 2022, the Financial Crimes Enforcement Network (“FinCEN”) issued the highly anticipated final rule, Beneficial Ownership Information Reporting Requirements (the “Final Rule”), implementing the beneficial...more

Husch Blackwell LLP

Beneficial Ownership Reporting Under the Corporate Transparency Act

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Key Points- •In December 2021, the Financial Crimes Enforcement Network (FinCEN) issued proposed regulations (Proposed Rule) that would implement the beneficial ownership reporting requirements of the Corporate...more

Fox Rothschild LLP

Corporate Transparency Act Will Mandate Disclosure of ‘Beneficial Owners’ of New and Existing Entities

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A new federal law poised to take effect soon will impose new disclosure duties on the individuals and businesses that form new entities and the professionals who assist them. The Corporate Transparency Act was passed by...more

Wilson Sonsini Goodrich & Rosati

New Rules Will Require Beneficial Ownership Reporting to Federal Regulators by U.S. and Foreign Corporations, LLCs, and Other...

On December 8, 2021, the Treasury Department's Financial Crimes Enforcement Network (FinCEN) published its proposed regulations on beneficial ownership information (BOI) reporting requirements. These FinCEN regulations will...more

Whitman Legal Solutions, LLC

Corporate Transparency Act–What Real Estate Sponsors and Investors Should Do Now to Prepare

Businesses facing a new law or regulation are like orchestra musicians. Most businesses will plan ahead so they can comply with new legal requirements on the law’s effective date. However, some laws are general and...more

Ward and Smith, P.A.

Dealing with the New Corporate Transparency Act

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The Corporate Transparency Act (the "CTA") was adopted on January 1, 2021, to combat the laundering of illicit funds through anonymous "shell" companies. The CTA will require certain corporations and limited liability...more

Proskauer Rose LLP

The Corporate Transparency Act – Government KYC

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Summary of the Corporate Transparency Act under the National Defense Authorization Act for Fiscal Year 2021 - On January 1, 2021, the Corporate Transparency Act (the “CTA”), which is part of the National Defense...more

Allen Matkins

Corporate Transparency Act: New Requirements to Disclose Ownership Information to the Federal Government

Allen Matkins on

The Corporate Transparency Act (CTA) became a law on January 1, 2021, and it has significant implications for many new and existing United States and foreign business entities. The law will impose completely new,...more

Gould + Ratner LLP

IRS Finalizes Carried Interest Regulations

Gould + Ratner LLP on

The IRS and Treasury Department released final regulations on January 7, 2021, that govern the tax treatment of partnership and LLC interests related to services, so-called carried interests, a/k/a applicable partnership...more

Holland & Knight LLP

New Treasury Regulations Revise Taxation of U.S. Persons Owning Foreign Corporations - Guidance Will Impact Minority Partners in...

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Highlights - • In an unanticipated development, the U.S. Department of the Treasury (Treasury) and Internal Revenue Service (IRS) recently issued regulations (New Guidance) that significantly modifies the taxation of U.S....more

Bracewell LLP

Changes to the Dubai International Financial Centre's ("DIFC") Legal and Regulatory Framework relating to DIFC registered...

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His Highness Sheikh Mohammed bin Rashid Al Maktoum, in his capacity as president of the DIFC, vice president and prime minister of the United Arab Emirates (“UAE”) and Ruler of Dubai, has recently enacted a new set of laws...more

Allen Matkins

Nevada Now Requiring Director Names Upon Incorporation

Allen Matkins on

Until this month, incorporators of Nevada corporations to file an initial list of its officers and directors on or before the last day of the first month after filing the initial articles of incorporation (unless the...more

Neal, Gerber & Eisenberg LLP

New IRS Rules for Partnership Audits Require Immediate Review of Partnership Agreements

Beginning in 2018, most partnerships (including LLCs and other arrangements treated as partnerships for tax purposes) will be subject to a new “centralized partnership audit regime.” The volume of Internal Revenue Service...more

Latham & Watkins LLP

IRS Tightens Rules on Disguised Sales and Allocating Partnership Liabilities

Latham & Watkins LLP on

New final, temporary and proposed regulations address leveraged transactions, “bottom-dollar” guarantees and other issues, but postpone action on some key questions. On October 4, 2016, the Internal Revenue Service (IRS)...more

Goodwin

Treasury Targets Tax Deferral in Leveraged Partnership Structures with New Regulations

Goodwin on

The Treasury issued new final, temporary and proposed regulations that take aim at, and significantly reduce the effectiveness of, leveraged partnership structures intended to achieve tax deferral to the contributing partner....more

Miles & Stockbridge P.C.

IRS Clarifies that Indirect Owners of Disregarded Entities Are Liable for Self-Employment Tax

The IRS recently released temporary regulations clarifying that an employee of a disregarded entity is liable for self-employment tax if the employee is a partner in the partnership that owns the disregarded entity. See...more

Sherman & Howard L.L.C.

Employee Benefits Advisory: IRS Issues Rules Clarifying the Self-Employment Tax Treatment of Partners – Possible Impact on...

In new regulations issued on May 4, 2016, the IRS clarified that partners in a partnership (including members of a limited liability company that is taxed as a partnership) that owns a subsidiary that is a disregarded entity...more

Eversheds Sutherland (US) LLP

Neither a Partner nor Employee Be: Treasury and the IRS Issue Regulations Clarifying the Employment Tax Treatment of Partners in...

The Treasury Department (Treasury) and the Internal Revenue Service (Service) have issued temporary regulations (Regulations) clarifying the federal employment tax treatment of the owners of partnerships and other entities...more

Williams Mullen

New Regulations Squash Planning Tool for Avoiding Self-Employment Tax and Related Employee Benefit Issues

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Tax practitioners often face this issue: client is a limited liability company taxed as a partnership for federal income tax purposes (“LLC”), and it wants to issue equity to a current employee (“Individual”) without...more

Smith Anderson

New Partnership Tax Audit Rules

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The Bipartisan Budget Act of 2015 establishes new rules (the “New Partnership Audit Rules”) for the conduct of federal income tax audits of partnerships and the assessment and collection of income taxes resulting from such...more

McDermott Will & Emery

Six Recommendations For Clients With Connections to France

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There have been a number of changes to EU laws recently that have had, or will have, a direct impact on your clients who have connections with France. There are six stand-out issues that are worth careful and immediate...more

Proskauer Rose LLP

Wealth Management Update - September 2015

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September Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - The September § 7520 rate for use with estate planning techniques such as CRTs, CLTs,...more

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