Topic
Partnerships
158 published works
Foley & Lardner LLP
Recent Circuit Court Cases Examine the Limited Partner Self-Employment Tax Exception
Key Takeaways Two recent federal appeals court decisions, K Alain (Fifth Circuit) and Soroban (Second Circuit), held that limited partner status under state law is not, by itself, enough to…
Whitman Legal Solutions Blog
Contract Termination – Planning for the End in Advance
When the Beatles broke up in 1970, fans were devastated. The group had transformed popular music, but disagreements about money, management, and creative direction had made it difficult for them…
GT SALT Watch
California OTA Rejects FTB’s IRC Section 751 Partnership Sourcing Theory
By Nikki E. Dobay, Bradley R. Marsh, John Ormonde, Will Fox
In a significant development for nonresident investors and private equity structures, the California Office of Tax Appeals (OTA) held that gain attributable to IRC section 751(a) “hot assets,” such as…
SALT Shaker
Virginia’s change to its policy of blended apportionment
By Jeffrey Friedman, Scott Smith
Virginia has a longstanding administrative policy requiring blended apportionment for corporate partners of partnerships engaged in business in the Commonwealth. A Virginia Department of Taxation bulletin changed that treatment relating to…
Law Practice Management Asked and Answered Blog
Non-Equity Partnership in Law Firms – Issues to Consider & Implementation Suggestions
Question: I am the managing partner of a small boutique litigation firm in Southern, California. There are two equity partners in the firm and five associates. Two of our associates…
Professional Services Industry Legal Blog
How to Remove a Business Partner or Member Under Florida Law
You can remove a business partner under Florida law, but almost never by announcing it. Florida treats removing a co-owner from management and removing their ownership as different things, and…
Liskow & Lewis, APLC
Second Circuit Furthers Circuit Split by Affirming Functional Test for “Limited Partner” Self-Employment Tax Exception
The Second Circuit has affirmed the Tax Court’s rulings against Soroban Capital Partners LP, holding that the firm’s three principals were not “limited partners” for purposes of the self-employment tax…
The Indian Lawyer Blog
VALUATION OF PARTNERSHIP ASSETS ON DISSOLUTION: SUPREME COURT CLARIFIES THE RIGHTS OF AN OUTGOING PARTNER
Sumitra Reddy & Anr. v. K. Ranganadha Reddy & Ors.Civil Appeal No. 8167 Overview A Bench of Justice Ujjal Bhuyan and Justice Vipul M. Pancholi has settled the date on which an…
Rush on Business
1,000 Posts: What Rush on Business Is Here to Do
By Rush Nigut
Rush on Business celebrates its 1,000th published post and looks ahead to its mission of providing practical guidance for franchisees, entrepreneurs, and closely held businesses.
Business and Commercial
An LLC Masquerading as a Partnership
The outcome of business divorce cases often depends upon whether a litigant is an owner of the business entity. Less often, the outcome depends upon what kind of entity the…