can sometimes make the governance structure of these firms uniquely subject to a market failure that externalizes the systemic costs of taking a risky action.
Before the application for registration of the private limited liability
company is submitted to the Administrator of the Register, a civil law notary must verify the correctness of the particulars entered into the application, the compliance of the statutes with the statutory requirements and the fact that the private limited liability
company is eligible for registration.
Under amendments to the Limited Liability
Company Act, an L3C "shall at all times significantly further" charitable or educational purposes as those purposes are defined by the Internal Revenue Code.
Prepare and file the Article of Organization for the Limited Liability
Peter Von Der Ahe, Scott Edelstein, and Seth Glasser represented the seller, a limited liability
company and the buyer, a private investor.
The new Limited Liability
Company Law in New York offers numerous advantages to owners of real estate, but it may not be the right vehicle for every owner.
The use of an LP will eliminate the double tax, but most entrepreneurs prefer the corporate shield (as opposed to the limited liability
shield of an LP).
May 19 /PRNewswire/ -- Plante & Moran, the largest Michigan-based certified public accounting and management consulting firm, will host a luncheon seminar entitled "Michigan Limited Liability
Companies" at the Embassy Suites Hotel in Southfield, Friday, May 21, noon to 2 p.
Finally, the LLP preserves the limited liability
available through an S corporation, because an LLP is, by definition, a limited-liability entity.
Fawn Associates Limited Liability
Company and Ghent Limited Liability
Company announced last week that it has sold the Greenwich Office Park, a 24-acre, 435,000 square-foot Class A office park located in Greenwich, CT, to a state public pension fund client represented by Jones Lang Wootton Realty Advisors.
LLCs offer limited liability
to all firm members and are treated as partnerships, not as corporations, for federal income tax purposes if they do not have more than two of the following corporate characteristics:
FLAC Holdings was formed as a Delaware limited liability
company in May 2004 for the limited purposes of acquiring and owning stock of Forethought Life Assurance Company (FLAC), which acquired a defined block of existing in-force pre-need insurance policies from Forethought Life Insurance Company (FLIC), issuing existing notes to support the acquisition of the in-force business and engaging in other activities incidental to the servicing and operation of the defined block of policies.
In Letter Ruling 200236005, the IRS held for the first time that the merger of a target into an acquiring corporation's wholly owned single-member limited liability
company (SMLLC) qualified as a tax-free A reorganization.
To my knowledge, the limited liability
of these firms' stockholders has had no detrimental effect on the firms, on the public or on our profession's image.
He is chairman of the Corporation Law Committee of The Association of the Bar of the City of New York, is one of the principal draftsmen of the proposed New York Limited Liability
Law pending in the New York legislature, and has written and lectured extensively on limited liability