Corporate social responsibility is a relatively new but increasingly important motivator for entrepreneurs and investors alike.
Clients are interested in incorporating this concept in the organization and operation of their companies. Investors are looking for vehicles that combine good works with profit. Hybrid Entities are the legislative response to this trend. You need to know what hybrid business structures are available and the legal, operational and tax ramifications of these choices. This OnDemand Webinar will educate you, so that you may guide your clients in determining whether hybrid business structures are available in your state, and whether such an entity is right for a particular client. You will learn about the advantages and disadvantages of hybrid business structures, the skeletal nature of existing law and how to navigate on these uncharted waters. You will gain a better understanding of the tax consequences and issues to consider in making these choices. You need to know about this new and developing area of corporate law to effectively counsel your clients. Learning Objectives: •You will be able to explain and clarify legal protection for directors and officers. •You will be able to identify tax considerations. •You will be able to discuss conversion of existing entities. •You will be able to review what is driving the state legislatures.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Why Are Hybrid Business Structures, Such as the Benefit Corporation, a Current "Hot Topic" and Trend on the Corporate/Legal Landscape?
- Is It Corporate Social Responsibility or "Greenwashing"?
- What Is Driving the State Legislatures?
What Is a Hybrid Entity?
- What Are the Differences and Commonalties Among Benefit Corporations, Flexible Purpose Corporations, Social Purpose Corporations and L3C's
- The Benefit Corporation Model: Public Benefit/Transparency/ Accountability
- Clarity and Legal Protection for Directors and Officers
Tax Considerations
- Overview of Taxation of Hybrid Companies
- Comparison of Taxation of Hybrid Companies
- Income Taxation of C Corporations
- Income Taxation of S Corporations
- Income Taxation of LLCs
Overview of State Laws
- Current Laws
- Pending Legislation
Practical Considerations
- Conversion of Existing Entities
- Income Tax Consequence of Conversion to a Benefit Corporation
- Operating in States Without Hybrid Entities
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More Program Information
Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on March 22, 2013.
Call 1-866-352-9540 for further credit information.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Cynthia G. Fischer – Moderator
Schnader Harrison Segal & Lewis LLP
- Co-chair of Schnader’s Nonprofit Organization Practice Group and has extensive corporate experience both in the U.S. and internationally
- Serves as the general corporate counsel and business advisor to nonprofit organizations, as well as to companies and individuals both domestic and foreign
- Represents arts organizations, trade associations, public charities, and private foundations
- Advises on the formation of nonprofit organizations, U.S. corporations, partnerships, limited liability companies and joint ventures
- Provides general corporate, commercial, distribution, licensing, franchising, product warranty, and intellectual property advice
- Actively licensed to practice law in New York
- Member of the American Bar Association, the New York State Bar Association: Franchising, Licensing and Distribution Committee, and is vice-chair of the International Bar Association’s Financial and Tax Aspects of International Sales Subcommittee
- J.D. and B.A. degrees, University of Minnesota
- Can be contacted at 212-973-8175 or [email protected]
Jonathan Flora
Montgomery, McCracken, Walker & Rhoads, LLP
- Chair of Schnader’s Tax Practice Group and co-chair of the Nonprofit Organizations Practice Group
- Actively licensed to practice law in California and Pennsylvania, and he is a resident of the firm’s Philadelphia office
- Advises clients on all areas of federal, state, and local tax issue, planning, structuring and controversy routinely advising investors on choice of entity, investment, organizational and structuring issues
- Provides tax, operating and governance advice and counsel to tax exempt, nonprofit and charitable entities as well as advises pass-through entities on operating, allocation, and distribution issues
- Represents clients on tax planning and structuring for a broad range of transactions, such as joint ventures, mergers and acquisitions, divestitures, reorganizations, redemptions, liquidations, securitizations, issuance of securities, licensing, workouts, and tax-free exchanges
- Advises individuals on income tax, asset protection, and family and divorce tax planning
- Member of the Tax Section of the American Bar Association, and a Member of the Tax Council and Tax Section of the Philadelphia Bar Association
- J.D. degree, University of Maryland; LL.M. (Tax) degree, New York University; M.A. degree, University of California, Davis
- Can be contacted at 215-751-2347 or [email protected]
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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