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ESTATE PLANNING TAX

The new post under the link below should be read not only by estate planners but also by LLC lawyers who want to think critically about “death taxes.”

http://www.taxlawforchb.com/2017/05/paying-the-estate-tax/

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LLC PUNCH LIST

The post under the link below contains an excellent “punch list” of things you should do after forming your LLC.

http://www.lexology.com/library/detail.aspx?g=4e4e2c83-abe6-44f3-b2af-8a062d87e2de&l=7UT9XK2

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FIVE LLC CASES

Under the link below is a post by Peter Mahler from his Business Divorce website. The post cites and briefly discusses five recent non-NY LLC cases. All of these cases address issues of considerable interest not only to litigators but also to LLC formation lawyers.

Here’s the link:

http://www.nybusinessdivorce.com/2017/04/articles/foreign-business-entities/business-divorce-nation-five-states-five-cases/

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SUMMARY OF CALIFORNIA EMPLOYMENT LAW

Under the link below is an excellent brief summary of California employment law:

http://www.lexology.com/library/detail.aspx?g=0060f328-d810-410d-8bee-121988385fe6&utm_source=Lexology+Daily+Newsfeed&utm_medium=HTML+email+-+Body+-+General+section&utm_campaign=Lexology+subscriber+daily+feed&utm_content=Lexology+Daily+Newsfeed+2017-04-06&utm_term=

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RECENT ARTICLES ABOUT LLCS IN ABA BUSINESS LAW TODAY

The  March 2017 issue of the ABA’s Business Law Today contains several important articles about LLC law and tax.  Here’s a link to the table of contents:

http://www.americanbar.org/publications/blt/2017/03.html

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TWO BUSINESS DIVORCES

Both of the cases discussed in the post by Peter Mahler under the link below involve business disputes between brothers. As every LLC lawyer will know, business divorces between family members involve special horrors. In the first case, the first brother was unable to prove he was the second brother’s partner, and should have known he wasn’t. In the second, the brothers were partners but hated each other, and their partnership was dissolved because the brothers’ mutual hatred made it “not reasonably practicable to carry on the business [of the relevant LLC] in conformity with the operating agreement.”

Here is the link: http://www.nybusinessdivorce.com/2017/03/articles/family-owned-businesses/pair-unbrotherly-business-altercations-go-trial/#more-18898

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S CORPORATION TAXATION

Many LLCs are taxable as S corporations, and far more should be.  The attached post under the link below addresses a couple of fundamental and pervasive S corporation issues about basis and losses.  The post applies, of course, as much to LLCs that are S corporations as to state-law business corporations that are S corporations.

Here is the link:   http://www.taxlawforchb.com/2017/05/s-corps-basis-loss-limitations/

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DISCOUNTS FOR LACK OF MOBILITY (“DLOM”)

Estate planners and LLC lawyers interested in DLOM issues will find interest in the post from Peter Mahler under the link below, especially if they practice in New Jersey. Here’s the link:

http://www.nybusinessdivorce.com/2017/03/articles/valuation-discounts/new-jersey-gone-off-dlom-rocker/

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WHAT EVERY BUSINESS OWNER SHOULD KNOW ABOUT PRIVATE FOUNDATIONS

The post under the link below provides basic information that business owners should know about private foundations.

Here’s the link: http://www.taxlawforchb.com/2017/04/private-foundations-a-primer-for-the-business-owner/

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LOVE VS. BUSINESS

Below is a link to the a post in Peter Mahler’s outstanding blog about business divorce. Immediately below, in quotes, is the first paragraph of the post.

“When a romantic affair evolves into a business relationship, the eventual falling out can be especially messy. Even more so if the former lovers try to keep the business going after the romance ends. That is a theme from a recent post-trial decision by Queens County Justice Timothy J. Dufficy in Shih v Kim, 2017 NY Slip Op 50281(U) [Sup Ct Queens County Mar. 2, 2017].”

Here’s the link: http://www.nybusinessdivorce.com/2017/03/articles/derivative-actions/love-business-fails/