BUSINESS ENTITIES AND TRANSACTIONS

Limited Liability Companies:

  • The entity of choice -- providing asset protection and income tax flexibility. 
  • Tax considerations -- income taxation treatment as corporation or partnership; Subchapter S election; taxation on formation, termination, admission of new members or foreign ownership.
  • Formation -- articles of organization; organizational minutes; issuance of membership certificates; registered office and agent; annual reports; foreign LLCs operating in Florida.
  • Operating agreement -- drafting; mandatory and default provisions; member contribution provisions; restriction on transferability of membership interests; dispute resolution.
  • Managers and management structure -- agreement provisions; relations and duties; liability of managers and indemnification.
  • Members -- voting; admission of additional members; assignment of interest; termination of membership; liability of members; rights to information; allocation of profits and losses; distributions.
  • Conversions and Mergers -- creditors’ rights; tax consequences.
  • Dissolution -- events causing dissolution; articles of dissolution; effect of dissolution; claims; tax implications.
  • Transactions involving limited liability companies.     

Corporations:

  • Formation -- articles of incorporation; bylaw; amendments; organizational meetings; action without meeting and minutes; C corporations and S corporations tax status.
  • Corporate name -- selection; reserving; rights for use. 
  • Administration -- registered office and agent; annual reports; service of process.
  • Capitalization, Shares and Distribution -- debt or equity capitalization; subscriptions for shares; issuance of shares; share certificates; subsequent acquisition of shares; distributions to shareholders.
  • Shareholders -- shareholder agreements; meeting and voting; rights of shareholders; meetings; voting; derivative actions.
  • Directors and Officers -- indemnification; board of directors; meetings; conduct and liability; insurance.
  • Mergers, Share Exchanges, Sale of Assets and Sale of Stock -- type of transactions; asset sales; asset allocation in taxable asset acquisitions; security interest of seller; stock sales; security law compliance.
  • Corporate Dissolution -- voluntary; administrative; judicial dissolution.
  • Foreign Corporations -- authority to transact business; maintaining and  terminating authority; domestication of foreign corporations.
  • Corporate Records and Reports -- shareholder’s right to inspect; judicial intervention.
  • Department of State Division of Corporations requirements.

Partnerships:

  • General Partnerships -- creation; capital and tax structure; operating issues; sale and purchase of partnership and partner interests; termination of partnership.
  • Limited Partnerships -- formation and operation; partnership agreements; filing, registration and annual reports; general and limited partners; admission and capital contribution; dissolution;  family partnerships

Not-for-Profit Corporations:

  • Formation; operation; dissolution; tax exempt status; procedures for obtaining tax exempt status from IRS; annual reports and public inspection requirements; prohibited transactions; unrelated business taxable income; excise tax for excess benefits; Florida taxes.

DEBTORS AND CREDITORS

  • Analysis of creditors claims; unsecured claims; enforcement of secured claims; security interests in personal property; bankruptcy issues; prejudgment remedies for unsecured creditors; attachment; garnishment; perfection of judgment liens; exempt property; fraudulent transfers; discovery in aid of execution; attachment and levy; judicial lien enforcement; extraordinary remedies.

 

ProudMember

 

Michigan

Our Office

  • Sarasota Office

    Address

    2201 Ringling Boulevard
    Suite 104
    Sarasota, Florida 34237

    Phone

    941-365-0118