Example-based discussions of; taxation of LLCs; pass-through entities in various jurisdictions; significant changes to the Florida LLC Act before Section 608 is repealed on 1/1/15, as well as the recent legislative updates to the Act; practical drafting tips; and the use of LLCs.
8:30 a.m. – 9:00 a.m.
9:00 a.m. – 9:15 a.m.
Introduction & Welcome
Taso Milonas, Sarasota
9:15 a.m. – 10:30 a.m.
Federal Income Taxation of LLCs: What You Should Know
Cristin Keane, Tampa
An example-based discussion of what you should know about taxation of LLC’s from fundamentals, such as capital accounts and basis, to common issues, such as Section 754 elections, options, and profits interests.
10:30 a.m. – 10:45 a.m.
10:45 a.m. - 11:45 a.m.
Other Entities”: The State Taxation of Pass-Through Entities
Marilyn Wethekam and Jordan Goodman, Chicago
There are several fundamental and unique characteristics of state taxation of pass-through entities that become traps and pitfalls when using this type of entity structure. It’s surprising how many different ways a state can tax entities that are not supposed to be taxed! This session will discuss what must be considered when using a pass-through entity structure.
11:45 a.m. – 12:45 p.m.
What Litigators Wish You Had Thought Of While Drafting…
Steven Dupré, Tampa
Hear valuable advice and commentary on what to include (or not include) in your LLC operating agreements and how to deal with budding disputes from the perspective of an experienced litigator who has facilitated many partnership and LLC disputes and “business divorces.”
12:45 p.m. – 1:30 p.m.
What Every Business and Tax Lawyer Needs to Know about The Revised LLC Act: Summary and Update
Louis Conti, Tampa
The Chair of the Florida Revised LLC Act drafting committee provides an overview of the significant changes to the Florida Revised LLC Act before Section 608 is repealed on 1/1/15.
1:30 p.m. – 2:15 p.m.
Uses of LLCs in Estate Planning
Joel Bronstein, Saint Petersburg
How and why estate & trust planners and administrators can effectively use LLCs, and estate planning issues that non-estate planners should be keeping in mind.
2:15 p.m. – 2:30 p.m.
2:30 p.m. – 3:30 p.m.
International Planning Opportunities
Shawn Wolf, Coral Gables
How and why international tax attorneys can effectively use LLCs and international issues that domestic planners should be keeping in mind.
3:30 p.m. – 4:30 p.m.
Practical Drafting Tips & Recent Trends
Thomas Rutledge, Louisville, KY
Tom Rutledge, Chair of the LLC Committee of the ABA Business Law Section, will discuss practical drafting tips and trends in LLC operating agreement drafting and uses, including management structures, exit options, fiduciary and similar obligations, and asset protection.
4:30 p.m. – 5:00 p.m.
What You Should Know About Working with LLCs: The Panel Discussion
Thomas Rutledge, Cristin Keane, Joel Bronstein, Louis Conti
This interactive panel of experienced practitioners will follow up on the day’s discussion of tax and state law issues and take your questions relating to the use of LLCs.