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Calendar

12/8/2016
Networking Professionally and Ethically (Webinar)

12/8/2016
Structuring Minority Interests in Businesses (Telephone)

12/8/2016
Ethics and Establishing and Ending an Attorney-Client Relationship (Telephone)

12/9/2016
Advanced Google Search for Lawyers (Webinar)

Tax Traps in Business Formations (Telephone)
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Forming a new business entity may seem like an easy process of filling in a few details on a form, but in truth the process is laden with risks – tax risks and other risks. Often one of the owners of the new company wants to contribute his or her services. Depending on how the contribution is structured – what services the person is giving to and ownership interest the he or she is receiving back from the company – there may be substantial and adverse tax consequences.

6/27/2016
When: Monday, June 27, 2016
12:00 PM - 1:00 PM

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MCLE Accreditation
Nebraska Activity #124859, 1.0 hour CLE

Forming a new business entity may seem like an easy process of filling in a few details on a form, but in truth the process is laden with risks – tax risks and other risks.  Often one of the owners of the new company wants to contribute his or her services.  Depending on how the contribution is structured – what services the person is giving to and ownership interest the he or she is receiving back from the company – there may be substantial and adverse tax consequences. When property subject to debt or other encumbrances is contributed to the new company there are also numerous tax implications for the company and the contributor – not to mention creditor issues.  There are also a host of subtle distinctions with outsized real-world consequences when structuring economic rights such as the right to distributions versus the tax allocations, if any.  This program will provide you with a practical guide to the tax and other major traps when forming a new business entity. 

  • Taxability on the contribution of services – valuation, timing, and character
  • Understand how the receipt of different type economic rights impacts stockholder/member/partner taxation
  • Transferring property subject to debt – credit and tax issues
  • Economic right to distributions v. tax allocations and responsibilities
  • Special issues involved in forming S Corps and LLCs
  • Valuation of ownership interests over time and relationship to transferability restrictions
  • Reviewing information and voting rights

Allen Sparkman is a partner in the Houston and Denver offices of Sparkman Foote, LLP.  He has practiced law for over thirty years in the areas of estate, tax, business, insurance, asset protection, and charitable giving.  He has written and lectured extensively on choice-of-entity, charitable giving and estate planning topics.  He is the Colorado reporter for the books "State Limited Partnership Laws" and "State Limited Liability Company Laws," both published by Aspen Law & Business.  He has also served as president of the Rocky Mountain Estate Planning Council.  Mr. Sparkman received his A.B. with honors from Princeton University and his J.D. with high honors from the University of Texas School of Law.



To Register:
Cost $89.00

http://ne.webcredenza.com/catalog.aspx?browse=ViewProg&catid=22517

  • Click on abo9ve link
  • Click “Login to add to cart” button at the bottom of the program page
  • This will take you to the log in page, FIRST time users will need to create a user name and password that is separate and distinct from any information you may have used for the Nebraska State Bar website
  • Please be sure to use the attorney name and contact information of the person who is to receive the CLE credit
  • Once completed click “Update & Proceed to Payment”
  • The final step is to click “Submit Payment”
  • At this point you will receive an email confirmation of the purchase
  • The day before the Program you will receive the dial in information and program materials
  • We will submit the program participation information to the Nebraska State Bar Association within 48 hours of the program completion

If you need additional information on your CLE credits please contact:
Sara Weber, Nebraska State Bar Association
(402) 475-7091 ext # 131; sweber@nebar.com

Nebraska State Bar Association, 635 S. 14th St., Suite 200, Lincoln, NE 68508
(402) 475-7091; Toll Free (800) 927-0117; FAX (402) 475-7098