486+ pp.; 6th ed. 2017-2018
(Includes 2018-2019 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.
Stay current with the latest supplement
The 2018-2019 supplement includes a number of changes such as the following:
- Wis. Stat. ch. 178, as recreated, applies to all limited liability partnerships (LLPs) formed after January 1, 2018; preexisting LLPs may elect to become subject to these revised rules
- The effects of the Tax Cuts and Jobs Act (TCJA) of 2017 on the tax treatment of corporations and limited liability companies (LLCs) are still being assessed; generally speaking, the TCJA lowers most corporate tax rates and creates a 20% deduction on pass-through income that encourages business owners to incorporate as pass-through entities
- The TCJA has created new deductions for LLC members that reduce the benefits of the potential payroll tax savings of S election and complicate choice-of-entity decisions
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