486+ pp.; 5th ed. 2014-15
Includes 2017 supplement
This popular handbook will teach you what you need to know to advise clients on using LLCs and LLPs in Wisconsin. The revised handbook reflects new developments such as the default pass-through tax treatment of LLCs and LLPs under the "check-the-box" regulations, the authorization of single-member LLCs (SMLLCs), and the rule permitting Wisconsin attorneys to use LLCs and LLPs in their practices. In addition, you'll find detailed discussions of the choice of an appropriate business entity, organization of the business, business formalities, and operational and tax issues.
An entire chapter of the handbook is devoted to annotated forms, including three operating agreements for LLCs, member agreements for SMLLCs, and a partnership agreement for an LLP.
Both the print and the Books UnBound versions include a complete set of fillable, unannotated forms via download.
Summary of contents
- Choice of Business Entity
- Organization and Formalities of LLCs
- Operational Issues of LLCs
- Tax Issues
- Limited Liability Partnerships
- Limited Liability Entities for Lawyers and Other Professionals
Table of Statutes, Regulations, and Rules
Newly updated to keep you current
Newly supplemented in 2017, this book reflects key statutory and case law developments, including:
- The repeal and recreation of the Wisconsin Uniform Partnership Act effective July 1, 2016
- The latest edition of Wisconsin Department of Revenue Publication 119 (LLCs) included as Appendix A
- Potential amendments to the Wisconsin Limited Liability Company Law (WLLCL)
- Updates to whether property owned by merging business entities is vested in the surviving entity
- Changes in income tax withholding rules for LLCs in Wisconsin with nonresident members
- Temporary regulations from the IRS and Treasury Department affecting how certain partnership liabilities are allocated to partners
- Updated table of individual state tax treatment of LLCs and registered LLPs in Appendix D