Limited Liability Companies: Losses, Liquidations, Terminations, Continuations and Sales

Overview

HELENA CLUSTER CLASS

The purpose of this course is to provide an in-depth discussion of selected advanced-level issues affecting LLCs and LLPs.

This course also has a VIRTUAL option. Please see 'MTCPA Webcasts' tab on the CPE page.

HOTEL
MTCPA has a room block at the Delta Hotels Helena Colonial on 8/19-20/2025-. Please reference "Montana Society of CPAs" when calling to book. 406-443-2100 or 866-211-4604.  Standard Room: $199 + tax. Rate available until 8/01/2025

Highlights

• When are distributions taxable?
• Miscellaneous issues, including the critical difference between §736(a) and §736(b) payments
• Sales of an LLC interest - holding period and hot asset issues

Prerequisites

A beginning course in LLCs/partnerships, experience with LLC/partnership clients

Designed For

Accounting and Financial Professionals with clients using the LLC or LLP structure who need to understand advanced issues, problems and planning strategies.

Objectives

After completing this course you will be able to . . .

• Identify when distributions are taxable, including disguised sales and the tax on pre-contribution gain
• Discuss the tax consequences of a liquidation of a partner's interest
• Describe the options when a partnership terminates or continues following an acquisition or merger
• Explain the tax consequences of a sale of an interest and distinguish such consequences from the tax consequences when a partnership or LLC is acquired or merges into another LLC or partnership

Preparation

None