LLCs Taxed as Partnership Need to Adopt a Tax Audit Agreement ASAP
Question 1: My multi-member LLC is taxed as a partnership. Does it need to amend its Operating Agreement because of the new partnership tax rules that become effective on January 1, 2018? Question 2:...
View ArticleHow a Married Couple Owns an Arizona LLC as Community Property
Married Arizona residents can own property as separate property, community property and community property with right of survivorship. Arizona law provides that if a married Arizona resident acquires...
View ArticleWhy Your Arizona LLC Needs Richard Keyt’s Custom Operating Agreement
I formed my first Arizona LLC the day the Arizona LLC law became effective in October of 1992. Since then I have formed 5,000+ Arizona LLCs. In practicing LLC law for 24 years I have sees the same...
View ArticleS Corporation Ignorance
For the umpteen time today a client told me about the client’s discussion with a person who does not understand the difference between the type of entity formed under the law of one of the fifty states...
View ArticleIRS Issues Proposed Regulations for New Partnership Tax Audit Rules
The IRS recently issued proposed regulations (REG-136118-15) that will, if implemented, govern the new partnership audit rules created by Section 1101 of the Bipartisan Budget Act of 2015, P.L. 114-74,...
View ArticleDoes Your LLC’s Operating Agreement Say What Happens if a Member or the LLC...
Homer Simpson and Ned Flanders owned 60% and 40%, respectively, of World Wide Widgets, LLC, an Arizona limited liability company. WWW manufactures and sells widgets. Without WWW’s knowledge or...
View ArticleOur Clients May Use DocuSign to Digitally Sign LLC Operating Agreements
KEYTLaw continues to use cutting edge technology that benefits our clients. We are now creating Operating Agreements and other contracts that use a state of the art digital signing service called...
View ArticleOur New Arizona LLC Website is at www.azllc.com
I created a new website called “We are Arizona LLC Attorneys” at www.azllc.com. We are Arizona’s premier LLC lawyers, which is why we have formed 6,800+ LLCs since 1992 and have 122 five star Google...
View ArticleSeptember 1, 2020, All Arizona LLCs are Governed by Arizona’s New LLC Law...
A year ago Arizona’s new LLC law became effective as to all LLC and PLLCs formed in Arizona after August 31, 2019. Today Arizona’s new LLC law applies to all Arizona LLCs and PLLCs formed before...
View Article3 Ways Your Loved One Will Be Harmed If You Own an LLC & Do Not Prepare for...
If a member of an Arizona LLC dies and the member did not take action to protect the member’s loved one(s) bad things will happen. The failure to plan for death creates the following problems: 1. The...
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