Limited Liability Companies: Losses, Liquidations, Terminations, Continuations, and Sales (Virtual) (ACL4)

4.00 CPE Credit Hours

The purpose of this course is to provide an in-depth discussion of selected advanced-level issues affecting LLCs and LLPs.

Accounting and Financial Professionals with clients using the LLC or LLP structure who need to understand advanced issues, problems, and planning strategies

• Identify when distributions are taxable, including disguised sales and the tax on pre-contribution gain
• Discuss the tax consequences of a liquidation of a partner's interest
• Describe the options when a partnership terminates or continues following an acquisition or merger
• Explain the tax consequences of a sale of an interest and distinguish such consequences from the tax consequences when a partnership or LLC is acquired or merges into another LLC or partnership

• When are distributions taxable?
• Miscellaneous issues, including the critical difference between 736(a) and 736(b) payments
• Sales of an LLC interest -- holding period and hot asset issues