Tax Issues in Transferring LLC and Partnership Interests
November 16, 2010
LLCs and partnerships are sometimes structured to look and operate like corporations, and interests in these entities are often analogized to corporate shares. However, LLC and partnership interests differ from corporate shares in a number of ways.
Tax basis, holding period and character of gain or loss are determined under different rules which contain numerous traps for the unwary. As a result, determining the tax consequences of a sale of an LLC or partnership will require more information and more analysis than the sale of a corporation.
The matter is further complicated by the characterization of the LLC or partnership interest as a profits or capital interest and whether the interest is subject to vesting. In addition, special “hot asset” and holding period rules will be implicated by the underlying assets and business operations.
Listen as our authoritative panel of tax attorneys discusses the complexities and pitfalls of the tax rules for transferring partnership interests and best practices for structuring transactions to obtain intended tax results.
To register, please click here.
Tuesday, November 16, 2010
Presenter: Amanda Wilson