Gain a better understanding of the key provisions of operating agreements of limited liability companies.
Many people do not understand the flexibility that they have in determining the business terms in an LLC Agreement. They also may not understand how tax issues may impact business issues or the impact of new federal filing obligations relating to beneficial owners of an LLC.
This presentation will help business owners and their lawyers understand the business and drafting flexibility available to them, some of the options available to them with respect to capital contributions, distributions, management, transfer rights and purchase and sale rights.
Learning Objectives
- You will be able to define the different types of equity interests that can be granted to an owner for contributing capital or providing services.
- You will be able to describe alternative governance structures.
- You will be able to discuss potential remedies for failing to make capital contributions.
- You will be able to explain why some members do not have to make capital contributions.
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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
| Formation | |
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| Tax Status of Entity | |
| Capital Contributions and Remedies for Failure to Contribute | |
| Profits Interest | |
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| Governance Structures | |
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| Distributions | |
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| Transfer Restrictions/Purchase Right | |
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Credit
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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.
Credits
Live Webinar Registration
- AK CLE 1.0
- Alaska attorneys may receive 1.0 hours of continuing legal education for completing this program. Please contact the Alaska Bar Association or go to www.alaskabar.org for details regarding reciprocity with other states.
- AL CLE 1.1
- This course or a portion thereof has been approved by the Alabama State Mandatory Continuing Legal Education Commission for a maximum of 1.1 hours credit.
- AR CLE 1.0
- This course has been approved for 1.0 hours of CLE by the Arkansas CLE Board.
- Arizona CLE 1.0
- The State Bar of Arizona does not approve or accredit CLE activities for the Mandatory Continuing Legal Education requirement. This activity may qualify for up to 1.0 hours toward your annual CLE requirement for the State Bar of Arizona.
- CA MCLE 1.0
- Lorman Education Services is a State Bar of California approved MCLE sponsor and this course qualifies for 1.0 CLE hours of participatory credit.
- CT CLE 1.0
- Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.0 CLE credit(s).
- HI CLE 1.0
- This program was approved by the Hawaii State Board of Continuing Legal Education for 1.0 CLE credit hours.
- IL CLE 1.0
- This course was approved for a total of 1.0 hours of MCLE Credit by the Illinois MCLE Board.
- IN CLE 1.1 (Pending)
- This program has been submitted to the Indiana Commission for Continuing Legal Education for Distance Education for participating attorneys. Application Pending.
- MN CLE 1.0 (Pending)
- This program has been submitted to the Minnesota Board of Continuing Legal Education. Approval pending.
- MO CLE 1.3 (Pending)
- ND CLE 1.0 (Pending)
- This program has been submitted to the North Dakota Commission for Continuing Legal Education. Application pending.
- NH MCLE 1.0
- NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 60 Minutes.
- NJ CLE 1.3
- This program has been approved by the Board on Continuing Legal Education of the Supreme Court of New Jersey for 1.3 hours of total CLE credit.
- NM CLE 1.0
- This program has been approved by the New Mexico Minimum Continuing Legal Education Board for 1.0 hours of credit.
- NV CLE 1.0
- This program has been approved by the Nevada Board of Continuing Legal Education for 1.0 CLE hours.
- NY CLE 1.0 including Areas of Professional Practice 1
- This course has been approved in accordance with the requirements of the New York Continuing Legal Education Board for up to a maximum of 1.0 credit hours in the area(s) of Areas of Professional Practice for 1.00 hour. Each hour may be counted only as satisfying one category of credit. Duplicate credit for the same hour of instruction is not permitted. This course qualifies for both established and newly admitted attorneys. Lorman Education- Noggin Guru, Inc. has a financial hardship guideline. Please contact customer service at 1.866.352.9539 for instructions on how to apply.
- OH CLE 1.25 (Pending)
- This course has been submitted to the Supreme Court of Ohio Commission on Continuing Legal Education for 1.25 CLE hours. Approval pending.
- PA CLE 1.0
- This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 1.0 hours of substantive law, practice and procedure CLE credit.
- RI CLE 1.0
- This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 1.0 hours of CLE credit.
- VT CLE 1.0
- This program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.0 hours of CLE credit.
- WI CLE 1.0
- This program has been approved by the Board of Bar Examiners for 1.0 hours for use toward the Wisconsin Mandatory CLE requirement.
- WV MCLE 1.3
- This program has been approved by the West Virginia State Bar MCLE Commission for 1.3 MCLE hours.
CPE 1.2 including Business Management and Organization 1.2
- Noggin Guru, Inc. dba Lorman Education Services and BankersHub is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: www.nasbaregistry.org. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 1.2 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Business Management and Organization for 1.2 hours. Prerequisite: basic knowledge of business financials. Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: Group Internet Based. Please refer to the information in this brochure for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board.
Please note: In order to receive CPE credit for this course you MUST use the streaming audio option, as well as enable and complete the required progress checks.
OnDemand Course
This course was last revised on December 10, 2019.
Call 1-866-352-9540 for further credit information.
No Credit AvailableThis program does NOT qualify, nor meet the National Standard for NASBA accreditation.
Who should attend?
This live webinar is designed for business owners and managers, presidents, vice presidents, directors, office managers, supervisors, controllers, CFOs, accountants, and attorneys.
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Credit
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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
Ryan Austin
Loeb & Loeb LLP
- Partner, Tax Department, Loeb & Loeb LLP
- Specialist in partnership taxation, regularly advising clients on all aspects of tax planning for LLC/partnership transactions, including formation issues for start-ups and joint ventures, business operations, and exit and sales strategies
- Regular speaker at tax conferences for the California and Los Angeles County Bar Associations
- J.D. Degree, University of Michigan Law School
- Can be contacted at [email protected] or (310) 282-2268
Allan B. Duboff
Loeb & Loeb LLP
Allan Duboff
- Partner, Corporate Department, Loeb & Loeb LLP
- Clients range from emerging growth companies, closely held companies, family offices and equity funds to large, well-known public companies, with focus on mergers and acquisitions, joint ventures and LLC matters, private equity, licensing, and general business matters
- Member of California State Bar Drafting Subcommittee for California’s original LLC Act
- Editor and Primary Drafter, Guide to Organizing and Operating a Limited Liability Company in California. The State Bar of California
- Author, ‘Nontax Factors in Structuring the Limited Liability Company,’ Chapter 6 of Forming & Operating California Limited Liability Companies. California Continuing Education of Bar
- J.D. Degree, University of Pennsylvania Law School and MBA, Wharton Graduate School of Business
- Can be contacted at [email protected] or (310) 282-2141
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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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