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Liquidating Business Entities: Navigating Your Way Through Corporate and Partnership Liquidations

Date: Thursday, April 25, 2019
Time: 1:00 - 2:40 pm EST

Sponsored by Lorman Education Services


Registration - Live Webinar Only: $219.00

Registration - Live Webinar Plus CD Recording: $288.00
 

Gain a better understanding of the rules and issues surrounding corporate and partnership liquidations and gain insight into potential planning opportunities available with a liquidation.

Liquidations are often viewed as the end of a business operation, however, a liquidation can also be utilized to achieve tax results in an acquisition, disposition or restructuring context that can minimize up front tax implications and provide tax planning benefits going forward.

We will discuss the rules, requirements and tax implications of corporate and partnership liquidations, and provide examples of when liquidations can be utilized for planning purposes or to arrive at structuring solutions.

Learning Objectives:

  • You will be able to discuss the tax implications to the corporation and its shareholders in a corporate liquidation.
  • You will be able to recognize the tax implications to the partnership and its partners in a liquidation and/or termination of a partnership.
  • You will be able to review and address the reporting requirements associated with a taxable and a tax-free liquidation.
  • You will be able to identify potential opportunities to utilize a liquidation for tax planning or restructuring purposes.
This Live Webinar Covers These Hot Issues

Corporate Liquidations

  • Liquidation Defined
    • Taxable Liquidations Under Section 331
    • TaxFree Liquidations Under Section 332
    • Reporting and Documentation Requirements
  • Utilization of Liquidation for Planning and Restructuring Opportunities
    • Examples

 Partnership Liquidations and Terminations

  • Overview of Four Typical Transactional Scenarios That End in Liquidation/Termination
  • Review the Subchapter K Governing Rules and Principles, Including:
    • Gain and Loss Allocations
    • Capital Account and Tax Basis Implications
    • Basis Carryover and Holding Period Rules
    • Asset Distributions and Partnership Divisions
    • Section 751 Property Implications
  • Review Application of Rules as Well as Planning Opportunities in the Context of the Four Typical Scenarios

Credit Information (Sponsored by Lorman Education Services):

  • CFP
  • CPE
  • AIPB
  • NASBA

For Detailed Credit Information page click here

Only registered attendee will receive continuing education credit.

Faculty

David Gette, CPA, Baker Tilly Virchow Krause, LLP

  • Tax director with Baker Tilly Virchow Krause, LLP with a focus on transaction tax matters including tax due diligence and structuring
  • Advises clients on tax consequences of domestic and cross-border transactions, acquisitions, dispositions, internal restructurings, reorganizations and other capital-related matters
  • Presents regularly on tax and mergers and acquisition related topics
  • Member of the AICPA and Minnesota Society of CPAs
  • B.S. degree in accounting, Moorhead State University

Joseph Schlueter, Baker Tilly Virchow Krause, LLP

  • Tax director with Baker Tilly Virchow Krause, LLP with 20 years of experience as a national tax resource on all matters related to the taxation of partnerships
  • Extensive experience advising small, middle market, and closely held business clients on structuring acquisition, disposition, and ownership succession transactions and the related tax implications
  • Active for more than 20 years in preparing and presenting webcasts and seminars for CPE and CLE organizations
  • J.D. degree, University of Iowa, College of Law; B.A. degree in accounting, University of Northern Iowa

(Not available outside the US)