Liquidations may be used as an alternative to the sale of a business or as an adjunct to the sale of business assets. The objective of this course is to fully explore the technical tax and business issues in liquidating C corporations, S corporations, partnerships, and limited liability companies. This unique course is essential for anyone planning to sell a business.
Learning Objectives
- Describe the tax consequences to a corporation and its shareholders of a complete liquidation
- Discuss alternatives to liquidation
- Understand the particular issues in the liquidation of an S corporation
- Consider the options available on complete liquidation of a partnership or LLC
Major Topics
- The impact of recent legislation
- Unique planning opportunities and tax traps involved in the liquidation of a business entity
- Installment sales and the big hurdles to favorable tax treatment in liquidation
- Form 966 and its importance
- An analysis of liquidation timing
- Strategies to pursue in light of the tax rates on dividends and capital gains
- The special problems of liquidating subchapter S corporations
- Key planning issues and benefits in liquidating partnerships and limited liability companies
- Expansion of the carried interest provisions of Rev. Proc. 93-27
