486+ pp.; 6th ed. 2017-2018
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.
New 6th Edition
This new edition identifies and explains the latest developments impacting limited liability entities, including:
- 2017 Wis. Act 58 creating Wis. Stat. § 73.0306 and amending other Wisconsin tax provisions to clarify personal and shareholder liability for Wisconsin state tax liabilities
- The repeal of Wisconsin’s Uniform Partnership Act and replacement with the Revised Uniform Partnership Act to apply to LLPs formed after Jan. 1, 2018
- New laws overhauling IRS partnership audit rules effective for partnership taxable years beginning after Dec. 31, 2017
- A requirement that new or existing domestic partnerships must file a statement of qualification with the Wisconsin Department of Financial Institutions (DFI) to take advantage of liability protection offered by Wisconsin’s LLP statute
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