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.

18 minute read October 29, 2007 at 04:20 PM
By
Michael E. Mooney
The Uncertain Tax Status of Series LLCs

Over the last decade, seven states, led by Delaware in 1996, have adopted statutes authorizing the formation of series LLCs.

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