Over the last decade, seven states, led by Delaware in 1996, have adopted statutes authorizing the formation of series LLCs.
The Uncertain Tax Status of Series LLCs
The Internal Revenue Service has not weighed in on the proper tax classification of series LLCs. Accordingly, lawyers recommending this new form of entity to clients or considering a series LLC for an ancillary business of the law firm or other purpose should proceed with caution.
By
Michael E. MooneyThis premium content is locked for Accounting and Financial Planning for Law Firms subscribers only
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