TEXAS SERIES LLCS

By , September 2, 2015 3:54 pm

Here is a cite to an article about how to use Texas series LLCs in real estate deals.  I suspect it also contains some good ideas for non-Texas LLCs:

Weller, “Modern Real Estate Transactions: Series LLCS,” SX008 ALI-CLE 1175, The American Law Institute Continuing Legal Education (Jul. 22-24, 2015).

 

 

MULTI-STATE TAX ISSUES

By , September 1, 2015 2:11 pm

The three excellent new posts from Tax Analysts under the links below address Alabama LLC multi-state tax issues, but the discussions also apply to other states:

  1. http://www.taxnotes.com/state-tax-today/partnerships-and-other-passthrough-entities/alabama-tax-tribunal-llc-must-file-return-distributions-nonresident-members/2015/08/14/15099796
  2. http://www.taxnotes.com/state-tax-today/limited-liability-companies/alabama-tax-tribunal-disregarded-entity-llc-required-pay-business-privilege-tax/2015/08/14/15099926
  3. http://www.taxnotes.com/state-tax-today/limited-liability-companies/alabama-tax-tribunal-finds-single-member-llc-subject-business-privilege-tax/2015/08/14/15099866
  4. http://www.taxnotes.com/imp/15099866

TRANSFERRING ENTITY INTERESTS

By , August 31, 2015 3:24 pm

The recent blog posts under the link below address issues relating to transfers of entity interests and other estate planning issues.

Here’s the link:

http://www.lexology.com/library/detail.aspx?g=30657e0a-1977-4ebb-9b9c-d2ebdb577842&utm_source=Lexology+Daily+Newsfeed&utm_medium=HTML+email+-+Body+-+General+section&utm_campaign=Lexology+subscriber+daily+feed&utm_content=Lexology+Daily+Newsfeed+2015-08-14&utm_term=

LLCS AND MEDIATION

By , August 29, 2015 1:19 pm

My model operating agreements for multi-member LLCs provide for the resolution of disputes among the members by mediation and, if that fails, by a single arbitrator under American Arbitration Association rules.  The new post under the link below is a good brief introduction to mediation, although not specifically with regard to disputes among LLC members.

Here’s the link:

http://www.lexology.com/library/detail.aspx?g=d809d8db-6030-4e15-bce6-21def1aa8116&utm_source=Lexology+Daily+Newsfeed&utm_medium=HTML+email+-+Body+-+General+section&utm_campaign=Lexology+subscriber+daily+feed&utm_content=Lexology+Daily+Newsfeed+2015-08-14&utm_term=

GOOD NEW POST ON “THE PRESSURE OF STEPPING INTO THE FAMILY BUSINESS”

By , August 27, 2015 5:23 pm

Click on the link below for a new post with a brief but good discussion of the above subject:

http://www.lexology.com/library/detail.aspx?g=f2e58bec-9155-4bc3-ad6b-9c190950c029&utm_source=Lexology+Daily+Newsfeed&utm_medium=HTML+email+-+Body+-+General+section&utm_campaign=Lexology+subscriber+daily+feed&utm_content=Lexology+Daily+Newsfeed+2015-08-12&utm_term=

 

ISSUES WHEN FOUNDERS OF NEW COMPANIES WORK “DAY JOBS” FOR OTHER BUSINESSES WHILE THEY’RE GETTING THEIR NEW BUSINESS STARTED

By , August 26, 2015 4:17 pm

For a new post with a brief but good discussion of the above topic, click on the link below:

http://www.lexology.com/library/detail.aspx?g=5078a883-f271-4ddd-8c39-9a0c5c08e503&utm_source=Lexology+Daily+Newsfeed&utm_medium=HTML+email+-+Body+-+General+section&utm_campaign=Lexology+subscriber+daily+feed&utm_content=Lexology+Daily+Newsfeed+2015-08-12&utm_term=

MEMBER AND MANAGER INDEMNIFICATION

By , August 25, 2015 4:39 pm

Click on link below for new post with brief but good discussion about above topic:

http://www.lexology.com/library/detail.aspx?g=5eeb4345-cf5a-4d4f-bad6-2a1fbb662e06&utm_source=Lexology+Daily+Newsfeed&utm_medium=HTML+email+-+Body+-+General+section&utm_campaign=Lexology+subscriber+daily+feed&utm_content=Lexology+Daily+Newsfeed+2015-08-12&utm_term=

BANKRUPTCY

By , August 24, 2015 4:33 pm

If you’re forming LLCs for your clients, you have to know what is likely to happen to LLCs and their members when the LLCs or one or more members go bankrupt.  For one thing, the answer is likely to involve LLC statutory pick-your-partner provisions and charging order provisions, which are key provisions in any LLC act—and which you and your clients need to understand.

The new blog post under the link below talks about a key issue that often arises when an LLC goes bankrupt.  The blogger is Tom Rutledge, a national leader in the field of LLC law and practice.

http://kentuckybusinessentitylaw.blogspot.com/2015/08/court-holds-that-bankruptcy-trustee.html

LLCS AND CYBERSECURITY

By , August 19, 2015 2:27 pm

The members of LLCs, especially those with significant financial value, must give careful attention to company cybersecurity.  The link below is to a good new post on the general topic of company cybersecurity.

http://www.lexology.com/library/detail.aspx?g=e48d5adc-96e2-4486-a227-08c3567761bf&utm_source=Lexology+Daily+Newsfeed&utm_medium=HTML+email+-+Body+-+General+section&utm_campaign=Lexology+subscriber+daily+feed&utm_content=Lexology+Daily+Newsfeed+2015-08-12&utm_term=

DISCORD BETWEEN MEMBERS OF A TWO-MEMBER LLC

By , August 18, 2015 3:10 pm

This new Peter Mahler post demonstrates the difficulty of resolving disputes between the members of two-member LLCs.  But remember:  70 percent of all LLCs are single-member; 25% are two-member; 5% account for all the rest. Drafting operating agreements for two-member LLCs is a tricky task.

Here’s the post:

http://www.nybusinessdivorce.com/2015/08/articles/grounds-for-dissolution/deadlock-hits-dead-end-in-llc-dissolution-case/#more-14388