State tax treatment of limited liability companies and limited liability partnerships
Article Abstract:
Different state legislatures such as Alaska, Illinois, and Tennessee that have adopted the Revised Uniform Partnership Act and continuing the strong trend among the states adopting them is discussed. About 28 states have some form of non-resident owner withholding and states are adding the 'limited liability limited partnership' entity to their list of business entity choices.
Publication Name: Business Entities
Subject: Business
ISSN: 1524-3583
Year: 2004
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Limited liability company conversions - Navigating the state tax implications
Article Abstract:
The numerous tax and legal advantages of converting exiting corporations into limited liability corporations are examined at length. The major tax advantage available to LLC's is the provision to set off losses of one or more corporations with the taxable income of an affiliate organization. The state and federal income tax laws applicable to LLC's are also examined.
Publication Name: Business Entities
Subject: Business
ISSN: 1524-3583
Year: 2005
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Exclusion of capital gain on sale of QSB stock
Article Abstract:
The details of the sections 1202 and 1045 that provide the exclusion and deferral of capital gain on the sale of qualified small business (QSB) stock are discussed. The benefits for the taxpayers by investing directly in the QSB stock are presented.
Publication Name: Business Entities
Subject: Business
ISSN: 1524-3583
Year: 2005
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