When forming a business, one of the first decisions an entrepreneur will make is choice of entity. This session will cover the possible legal structures for your business, including liability and tax advantages and disadvantages. Learn the basics of Corporate Formation -Introduction business formation and understand the pros and cons of incorporating in Michigan and Delaware.
This workshop helps attendees understand the income taxation of trusts and estates, identify sources of taxable income, calculate distributable net income, and apply the Alternative Minimum Tax.
Presenter: David Spence, Jennifer Han, Allison Kroeker, and Li (Fiona) Xu of Royse Law Firm
CTKnowledgeShare: CT Corporation is dedicated to educating our customers on the most current and essential topics for corporate legal and compliance professionals.
This workshop helps attendees understand the income taxation of trusts and estates, identify sources of taxable income, calculate distributable net income, and apply the Alternative Minimum Tax.
Presenter: David Spence, Jennifer Han, Allison Kroeker, and Li (Fiona) Xu of Royse Law Firm
CTKnowledgeShare: CT Corporation is dedicated to educating our customers on the most current and essential topics for corporate legal and compliance professionals.
What advantages and disadvantages are there to illinois s corporations and ll...www.growthlaw.com
This memo describes the state tax, liability, and agency authority differences between Illinois business corporations with a subchapter S federal tax election and Illinois limited liability companies with the same election. It also discusses how the differences in entity type and location may relate to mergers and acquisitions.
If it’s happening in Delaware, you want to know about it. 65% of the Fortune 500 are incorporated in Delaware, and over 150,000 new entities were formed in 2013 alone. Whether you work in a corporation or at a law firm, you’ll need to answer the questions, “Why Delaware?” and “What do I need to know to get the best results?”
Join CT’s expert staff attorneys for a unique view on working with Delaware. No other registered agent does as much work with Delaware — you’ll learn nuances and experience you simply can’t get anywhere else.
This is Part 1 of a slide deck was presented by the University of Illinois Tax School in conjunction with a textbook entitled Limited Liability Companies: Electing Partnership vs. S Corporation Status. The presentation gives good background on various LLC topics (such as LLC formation, LLC operations, Distributions of an LLC, Sale of a Member Interest, Withdrawal of a Member, and Death of a Member). The textbook itself can be purchased at https://taxschool.illinois.edu/.
The first seminar of a four-part series on growing a business and preparing it for sale led by the co-chair of Kegler Brown's M+A practice, Eric Duffee. Eric partnered with Jeff Tubaugh and Maggie Gilmore of BDO for this presentation, which focused on the fundamentals of entity selection. It detailed different entity types and the related impacts from tax reform affecting them. It also discussed concerns related to outside investors, partnerships, various structural forms and the tax impact of each.
Original air date: Dec. 14, 2017
Recording available at http://www.mhmcpa.com
Partnerships often hear the calling from private equity fund partners to monetize a portion of the value they own, even though they are not yet ready to deploy their exit strategy. Partnerships offer tremendous flexibility to accomplish this objective in a tax-efficient manner using debt-financed distributions. However, these transactions leave potential traps for the unwary.
In this webcast, we will provide comprehensive examples of the tax consequences of debt-financed distributions, from the moment they are made through typical subsequent events that affect their tax results.
CTKnowledgeShare: CT Corporation is dedicated to educating our customers on the most current and essential topics for corporate legal and compliance professionals.
This is one of presentations from the 2009-2010 Game Industry Start Up Workshop Series. The first workshop topic was "How to Form and Protect Your Business" and it took place on 9/15/09.
August 2011 - Michigan Energy Forum - Bonnie BonaAnnArborSPARK
This panel offers a unique discussion about the remaining challenges facing green energy innovators working to directly compete with conventional power sources in Michigan. Once green power becomes more economical than traditional sources, even considering initial ROI, the market will open up and it will become a new standard building energy system.
November 2011 - Marketing Roundtable - Bryan HoeftAnnArborSPARK
Planning for the future means understanding which industry trends will impact your business and budgets. Here's your opportunity to engage with industry experts sharing stories that directly influence your 2012 marketing planning. Google is surely a line item in your budget, what are they up to now and where is Google going? Will Facebook advertising still be important to allocate budget to? Search Engine Optimization powers your visibility, but what trends should you be aware of and how will they impact your site's future? You'll get the insiders' perspective of B2B corporations, as the panelists take you through the upcoming trends and where you should focus your planning. You'll get answers to these questions...and much more... guaranteed!
What advantages and disadvantages are there to illinois s corporations and ll...www.growthlaw.com
This memo describes the state tax, liability, and agency authority differences between Illinois business corporations with a subchapter S federal tax election and Illinois limited liability companies with the same election. It also discusses how the differences in entity type and location may relate to mergers and acquisitions.
If it’s happening in Delaware, you want to know about it. 65% of the Fortune 500 are incorporated in Delaware, and over 150,000 new entities were formed in 2013 alone. Whether you work in a corporation or at a law firm, you’ll need to answer the questions, “Why Delaware?” and “What do I need to know to get the best results?”
Join CT’s expert staff attorneys for a unique view on working with Delaware. No other registered agent does as much work with Delaware — you’ll learn nuances and experience you simply can’t get anywhere else.
This is Part 1 of a slide deck was presented by the University of Illinois Tax School in conjunction with a textbook entitled Limited Liability Companies: Electing Partnership vs. S Corporation Status. The presentation gives good background on various LLC topics (such as LLC formation, LLC operations, Distributions of an LLC, Sale of a Member Interest, Withdrawal of a Member, and Death of a Member). The textbook itself can be purchased at https://taxschool.illinois.edu/.
The first seminar of a four-part series on growing a business and preparing it for sale led by the co-chair of Kegler Brown's M+A practice, Eric Duffee. Eric partnered with Jeff Tubaugh and Maggie Gilmore of BDO for this presentation, which focused on the fundamentals of entity selection. It detailed different entity types and the related impacts from tax reform affecting them. It also discussed concerns related to outside investors, partnerships, various structural forms and the tax impact of each.
Original air date: Dec. 14, 2017
Recording available at http://www.mhmcpa.com
Partnerships often hear the calling from private equity fund partners to monetize a portion of the value they own, even though they are not yet ready to deploy their exit strategy. Partnerships offer tremendous flexibility to accomplish this objective in a tax-efficient manner using debt-financed distributions. However, these transactions leave potential traps for the unwary.
In this webcast, we will provide comprehensive examples of the tax consequences of debt-financed distributions, from the moment they are made through typical subsequent events that affect their tax results.
CTKnowledgeShare: CT Corporation is dedicated to educating our customers on the most current and essential topics for corporate legal and compliance professionals.
This is one of presentations from the 2009-2010 Game Industry Start Up Workshop Series. The first workshop topic was "How to Form and Protect Your Business" and it took place on 9/15/09.
August 2011 - Michigan Energy Forum - Bonnie BonaAnnArborSPARK
This panel offers a unique discussion about the remaining challenges facing green energy innovators working to directly compete with conventional power sources in Michigan. Once green power becomes more economical than traditional sources, even considering initial ROI, the market will open up and it will become a new standard building energy system.
November 2011 - Marketing Roundtable - Bryan HoeftAnnArborSPARK
Planning for the future means understanding which industry trends will impact your business and budgets. Here's your opportunity to engage with industry experts sharing stories that directly influence your 2012 marketing planning. Google is surely a line item in your budget, what are they up to now and where is Google going? Will Facebook advertising still be important to allocate budget to? Search Engine Optimization powers your visibility, but what trends should you be aware of and how will they impact your site's future? You'll get the insiders' perspective of B2B corporations, as the panelists take you through the upcoming trends and where you should focus your planning. You'll get answers to these questions...and much more... guaranteed!
October 2010 - Michigan Energy Forum - Ruben DerderianAnnArborSPARK
With over $1 billion in research invested annually at Michigan universities, technology transfer to entrepreneurs and established companies can play a major role in transforming Michigan's economy. Join representatives of the Association of University Technology Managers, the University of Michigan Venture Center, MSU Technologies, and Wayne State Technology Commercialization to learn how you can leverage tech transfer and sponsored research in your energy venture.
June 2011 - Marketing Roundtable - Ashley AidenbaumAnnArborSPARK
In many organizations, there's a wide gulf between social media and traditional marketing. This panel of experts will help you understand that buyers don't distinguish, and each medium has distinct advantages and uses. We'll review case studies, and discuss strategies and tactics to help you leverage and integrate your traditional outbound efforts with new tools like Twitter, LinkedIn, YouTube, and Facebook.
April 2011 - Business Law & Order - Mark G. MalvenAnnArborSPARK
This is the much anticipated sequel to SPARK’s smash hit IP–1 session last Fall. In this installment, we have assembled a star-studded cast of IP experts to discuss the ins and outs of licensing intellectual property (IP), as well as a “best practices” approach to avoiding the dreaded “cease & desist” letter from a competitor. Matt Bell from the UofM Tech Transfer Office will talk about the many opportunities that exist for entrepreneurs to acquire cutting edge technology from universities, and to engage university researchers to solve specific technical problems. Attorney Mark G. Malven will cover IP licensing for entrepreneurs. Attorney Richard (Rick) Hoffmann will share ways that startups and emerging businesses can reduce the risk of infringing third-party IP rights.
February 2011 - Michigan Energy Forum - John SarverAnnArborSPARK
Have you ever considered whether you could use renewable energy at your home or small business? Or think it may be a good business opportunity to sell, install, or service renewable energy systems? Join us as we discuss some of the various types of small scale renewable energy systems; the financial ins and outs of renewables;laws and regulations covering them; opportunities for entrepreneurs; and lots more.
April 2011 - Business Law & Order - Richard (Rick) HoffmannAnnArborSPARK
This is the much anticipated sequel to SPARK’s smash hit IP–1 session last Fall. In this installment, we have assembled a star-studded cast of IP experts to discuss the ins and outs of licensing intellectual property (IP), as well as a “best practices” approach to avoiding the dreaded “cease & desist” letter from a competitor. Matt Bell from the UofM Tech Transfer Office will talk about the many opportunities that exist for entrepreneurs to acquire cutting edge technology from universities, and to engage university researchers to solve specific technical problems. Attorney Mark G. Malven will cover IP licensing for entrepreneurs. Attorney Richard (Rick) Hoffmann will share ways that startups and emerging businesses can reduce the risk of infringing third-party IP rights.
April 2012 - Michigan Energy Forum - Kevin KrauseAnnArborSPARK
Come join the Michigan Energy Forum on Thursday April 5 as we discuss the role of nuclear energy in Michigan and abroad in addressing global climate change. Panelists will include representatives from industry, academia, and the State who will share their views of the role that nuclear energy should play to reduce greenhouse gas emissions and generate economic development opportunities. While nuclear energy can be a very controversial topic, the purpose of this forum is to discuss the science, economics, and risks and rewards of nuclear energy and to learn more about what is going on in Michigan. Please join us on April 5 for this exciting forum.
January 2011 - Business Law & Order - Mark HeuselAnnArborSPARK
Hiring practices; Employees vs Independent Contractors; Wage & Hour Issues; Discrimination Issues; Whistleblower protection; Best practices
Mark Heusel is a Member of Dickinson Wright, PLLC’s Ann Arbor office. Dickinson Wright is a international law firm with offices in Michigan, Washington D.C., Nashville, Phoenix, Las Vegas and Toronto. Mr. Heusel works with companies in a variety of circumstances in the commercial litigation and employment law areas. He has substantial experience in advising clients on a host of employment related issues, including litigation avoidance, human resource issues, discrimination and wrongful termination litigation, non-compete and trade secret matters, and business practices. He is also a frequent lecturer and author on these issues and when necessary, a vigorous litigator.
March 2011 - Michigan Energy Forum - Joseph A. Malcoun IIAnnArborSPARK
Have you ever considered purchasing an electric vehicle? Want to find out what all the hype is about? Join us for an evening of information and updates on the rollout of electric vehicles in Michigan and the United States.
September 2011 - Michigan Energy Forum - David YanochkoAnnArborSPARK
Regulatory Drivers For CleanTech and Green Jobs: When people think of CleanTech, they usually think of wind turbines and solar panels, but there may be a burgeoning opportunity in energy efficiency. Many states, including Michigan, have adopted Renewable Portfolio Standards that requires utilities to generate a portion of their electricity from renewable sources. The U.S. Environmental Protection Agency recently promulgated a regulation (the GHG BACT) that will require utilities to reduce their carbon emissions, primarily through energy efficiency. However, several members of Congress are trying to cut back on GHG regulations arguing that these regulations are job killers. Come to the Michigan Energy Forum on September 8th to learn about the latest regulatory developments, what they have meant from green jobs in Michigan, and what the future might hold.
Michigan Marketing Minds - March 10, 2015 - Field notes on brand positioning ...AnnArborSPARK
Discover, explore and learn new ways to position your brand for customer engagement and advocacy. Session leader Scott Hauman will share and review real world brand definition methods and strategies that will help you shape your company, product or service brand for success.
Michigan Marketing Minds - January 13, 2015 - Marketing 101: Your Marketing PlanAnnArborSPARK
One of the keys to success for any business is to develop a strategic marketing plan. It can be a comprehensive, integrated plan or a one-pager. Pavan Muzumdar of PSI Insight kicks off this session by presenting a strategic framework that will help you align your thinking for the year. Don Hart then follows up to help you with a homework assignment of crafting your own One-Pager 2015 Plan.
September 2011 - Marketing Roundtable - Elizabeth ParkinsonAnnArborSPARK
September's panel will discuss how to turn customers and stakeholders into advocates. Join consumer and business marketing experts as they reveal the latest integrated marketing and customer satisfaction strategies for creating relationships with customers that care, share and buy.
Everything your startup needs to know about accountingThe Idea Village
Don't get lost in the accounting world as you steer your venture to success! In this IDEAinstitute, attendees will be guided by the accounting startup compass: tools and insights of the trade necessary to reach your venture's destination.
Understand the various legal forms of a business and the opportunities and challenges associated with each form
http://frombootstobusiness.com/category/from-boots-to-business/business-legal-principles/
Testimony: Kansas Tax Modernization: A Framework for Stable, Fair, Pro-growth...Kevin Kaufman
Testimony to: Kansas’ Senate Committee on Assessment and Taxation; and Kansas’ House Committee on Taxation
Presenting: Kansas Tax Modernization: A Framework for Stable, Fair, Pro-growth Reform
Structuring Your Business from Startup Through Growthnextfab
Follow up slides from PENN LAW ENTREPRENEURSHIP LEGAL CLINIC AT NEXTFAB
http://nextfab.ticketleap.com/penn-law-entrepreneurial-legal-clinic-at-nextfab/details
2017 will likely see substantial changes to the US Tax Code. Currie & McLain explore the potential changes and their impact to business, individuals and estates.
C-Suite Snacks Webinar Series: Tax Structures to Reduce Cost and Improve Comp...Citrin Cooperman
Sign up for our weekly C-Suite Snacks webinars here: https://www.citrincooperman.com/infocus/c-suite-snacks
Our C-Suite Snacks webinar series provides the middle market with brief, strategic, and tactical business improvement information for 30 minutes every week. Join Citrin Cooperman live every Thursday at noon for snack-sized insights for business executives.
Running a business can be quite difficult, and the process of getting things up and running often overshadows other considerations, such as what type of business tax structure you should operate under. During this session, we covered how to structure your business for optimal tax benefits. Key takeaways included:
- Best tax structure for your business
- New insights on tax structure
- Tips to avoid tax traps based on the type of structure
Taxes and Finance: Structuring Your Horse Business to SucceedGwyn Shelle
A presentation from the Equine Business Conference presented by Michigan State University, University of Minnesota, University of Nebraska, and Iowa State University, and partly funded by the North Central Regional Center for Rural Development. Presenter: Michelle Greenlee, Farm Financial Consultant.
Understanding the advantages of having an expert review your company’s sales and use tax transactions; awareness of opportunities that potentially exist for obtaining refunds of sales and use tax already paid by your organization; learning more about the ins and outs of sales and use tax.
Similar to September 2010 - Business Law & Order - Thomas D. Hammerschmidt, Jr. (20)
Michigan Marketing Minds - April 14, 2015 - Creating CustomersAnnArborSPARK
Great concept. Perceived need. Solid technology.
Now your challenge is: getting people to try it.
How will you identify your best prospects? How will you open the door? How will you get them hooked? How will you keep them engaged? In sum: What’s your plan to find, win, and grow profitable customer relationships?
Often the process starts with highly targeted prospecting – that is: Choose who you want to do business with. And get the conversation started.
Successful entrepreneurs will tell how they tightly focused on strategic beachheads – then grew out from them – to establish market leadership.
Selling Smart Workshop - April 1, 2015 - People Buy Emotionally, Justify Inte...AnnArborSPARK
In this session, you will learn how to define a prospect’s needs, wants, challenges, and/or problems, or “pain.” You will learn the three components of pain and how to use specific questioning techniques to prompt the prospect’s internal motivation. Additionally, you will learn how to qualify or disqualify the opportunity based on whether your product or service could solve the problems identified.
Selling Smart Workshop - September 10, 2014 - Pitching Your Business for Emot...AnnArborSPARK
Most people blather-on to prospective customers about all of the stuff they love about their product or service, and then wonder why the prospect doesn’t “get it”. This session will demonstrate and then help you to state your business in a brief, targeted way so a prospective customer will appreciate your value, and get emotionally involved enough to want to know more about your offerings.
Michigan Marketing Minds - September 9, 2014 - Expressing Thought Leadership:...AnnArborSPARK
The Three Keys to Modern Marketing: Content, Content, Content...
Panelists will tell how their companies’ innovative content marketing strategies have helped them:
-establish thought leadership within their industries,
-get found by the right kinds of customers,
-build strong brands that stand apart from the competition,
-increase preference among customers ready to buy.
GraphRAG is All You need? LLM & Knowledge GraphGuy Korland
Guy Korland, CEO and Co-founder of FalkorDB, will review two articles on the integration of language models with knowledge graphs.
1. Unifying Large Language Models and Knowledge Graphs: A Roadmap.
https://arxiv.org/abs/2306.08302
2. Microsoft Research's GraphRAG paper and a review paper on various uses of knowledge graphs:
https://www.microsoft.com/en-us/research/blog/graphrag-unlocking-llm-discovery-on-narrative-private-data/
The Art of the Pitch: WordPress Relationships and SalesLaura Byrne
Clients don’t know what they don’t know. What web solutions are right for them? How does WordPress come into the picture? How do you make sure you understand scope and timeline? What do you do if sometime changes?
All these questions and more will be explored as we talk about matching clients’ needs with what your agency offers without pulling teeth or pulling your hair out. Practical tips, and strategies for successful relationship building that leads to closing the deal.
JMeter webinar - integration with InfluxDB and GrafanaRTTS
Watch this recorded webinar about real-time monitoring of application performance. See how to integrate Apache JMeter, the open-source leader in performance testing, with InfluxDB, the open-source time-series database, and Grafana, the open-source analytics and visualization application.
In this webinar, we will review the benefits of leveraging InfluxDB and Grafana when executing load tests and demonstrate how these tools are used to visualize performance metrics.
Length: 30 minutes
Session Overview
-------------------------------------------
During this webinar, we will cover the following topics while demonstrating the integrations of JMeter, InfluxDB and Grafana:
- What out-of-the-box solutions are available for real-time monitoring JMeter tests?
- What are the benefits of integrating InfluxDB and Grafana into the load testing stack?
- Which features are provided by Grafana?
- Demonstration of InfluxDB and Grafana using a practice web application
To view the webinar recording, go to:
https://www.rttsweb.com/jmeter-integration-webinar
Securing your Kubernetes cluster_ a step-by-step guide to success !KatiaHIMEUR1
Today, after several years of existence, an extremely active community and an ultra-dynamic ecosystem, Kubernetes has established itself as the de facto standard in container orchestration. Thanks to a wide range of managed services, it has never been so easy to set up a ready-to-use Kubernetes cluster.
However, this ease of use means that the subject of security in Kubernetes is often left for later, or even neglected. This exposes companies to significant risks.
In this talk, I'll show you step-by-step how to secure your Kubernetes cluster for greater peace of mind and reliability.
Kubernetes & AI - Beauty and the Beast !?! @KCD Istanbul 2024Tobias Schneck
As AI technology is pushing into IT I was wondering myself, as an “infrastructure container kubernetes guy”, how get this fancy AI technology get managed from an infrastructure operational view? Is it possible to apply our lovely cloud native principals as well? What benefit’s both technologies could bring to each other?
Let me take this questions and provide you a short journey through existing deployment models and use cases for AI software. On practical examples, we discuss what cloud/on-premise strategy we may need for applying it to our own infrastructure to get it to work from an enterprise perspective. I want to give an overview about infrastructure requirements and technologies, what could be beneficial or limiting your AI use cases in an enterprise environment. An interactive Demo will give you some insides, what approaches I got already working for real.
Encryption in Microsoft 365 - ExpertsLive Netherlands 2024Albert Hoitingh
In this session I delve into the encryption technology used in Microsoft 365 and Microsoft Purview. Including the concepts of Customer Key and Double Key Encryption.
Accelerate your Kubernetes clusters with Varnish CachingThijs Feryn
A presentation about the usage and availability of Varnish on Kubernetes. This talk explores the capabilities of Varnish caching and shows how to use the Varnish Helm chart to deploy it to Kubernetes.
This presentation was delivered at K8SUG Singapore. See https://feryn.eu/presentations/accelerate-your-kubernetes-clusters-with-varnish-caching-k8sug-singapore-28-2024 for more details.
Neuro-symbolic is not enough, we need neuro-*semantic*Frank van Harmelen
Neuro-symbolic (NeSy) AI is on the rise. However, simply machine learning on just any symbolic structure is not sufficient to really harvest the gains of NeSy. These will only be gained when the symbolic structures have an actual semantics. I give an operational definition of semantics as “predictable inference”.
All of this illustrated with link prediction over knowledge graphs, but the argument is general.
Essentials of Automations: Optimizing FME Workflows with ParametersSafe Software
Are you looking to streamline your workflows and boost your projects’ efficiency? Do you find yourself searching for ways to add flexibility and control over your FME workflows? If so, you’re in the right place.
Join us for an insightful dive into the world of FME parameters, a critical element in optimizing workflow efficiency. This webinar marks the beginning of our three-part “Essentials of Automation” series. This first webinar is designed to equip you with the knowledge and skills to utilize parameters effectively: enhancing the flexibility, maintainability, and user control of your FME projects.
Here’s what you’ll gain:
- Essentials of FME Parameters: Understand the pivotal role of parameters, including Reader/Writer, Transformer, User, and FME Flow categories. Discover how they are the key to unlocking automation and optimization within your workflows.
- Practical Applications in FME Form: Delve into key user parameter types including choice, connections, and file URLs. Allow users to control how a workflow runs, making your workflows more reusable. Learn to import values and deliver the best user experience for your workflows while enhancing accuracy.
- Optimization Strategies in FME Flow: Explore the creation and strategic deployment of parameters in FME Flow, including the use of deployment and geometry parameters, to maximize workflow efficiency.
- Pro Tips for Success: Gain insights on parameterizing connections and leveraging new features like Conditional Visibility for clarity and simplicity.
We’ll wrap up with a glimpse into future webinars, followed by a Q&A session to address your specific questions surrounding this topic.
Don’t miss this opportunity to elevate your FME expertise and drive your projects to new heights of efficiency.
UiPath Test Automation using UiPath Test Suite series, part 4DianaGray10
Welcome to UiPath Test Automation using UiPath Test Suite series part 4. In this session, we will cover Test Manager overview along with SAP heatmap.
The UiPath Test Manager overview with SAP heatmap webinar offers a concise yet comprehensive exploration of the role of a Test Manager within SAP environments, coupled with the utilization of heatmaps for effective testing strategies.
Participants will gain insights into the responsibilities, challenges, and best practices associated with test management in SAP projects. Additionally, the webinar delves into the significance of heatmaps as a visual aid for identifying testing priorities, areas of risk, and resource allocation within SAP landscapes. Through this session, attendees can expect to enhance their understanding of test management principles while learning practical approaches to optimize testing processes in SAP environments using heatmap visualization techniques
What will you get from this session?
1. Insights into SAP testing best practices
2. Heatmap utilization for testing
3. Optimization of testing processes
4. Demo
Topics covered:
Execution from the test manager
Orchestrator execution result
Defect reporting
SAP heatmap example with demo
Speaker:
Deepak Rai, Automation Practice Lead, Boundaryless Group and UiPath MVP
UiPath Test Automation using UiPath Test Suite series, part 4
September 2010 - Business Law & Order - Thomas D. Hammerschmidt, Jr.
1. Ann Arbor SPARK –
Business Law & Order
September 20, 2010
Tax Considerations on
Choice of Entity, Formation and Start-up Operations
Thomas D. Hammerschmidt, Jr.
Dickinson Wright PLLC
thammerschmidt@dickinsonwright.com
2. IMPORTANT Tax considerations
• Taxation of entity
• Taxation of owners on operations
• Tax consequences of property transfers to the entity and owner's receipt of
ownership interests
• Transfers from businesses, liquidations
• Employee benefits
• Other tax considerations
3. TYPES OF ENTITIES
C Corporation Limited Liability Company
S Corporation Individual (sole proprietorship)
General Partnership Trust, Non-Profit Corporation
Limited Partnership
5. TAXATION OF ENTITY AND OWNERS
• Entity-level taxation
("double taxation")
• Conduit (pass-through) treatment
6. TAX ATTRIBUTES OF C CORPORATION
• Taxation at entity level
• Owners taxed again on dividends
• Deduction for owner salaries and bonuses – reasonable compensation
• Additional tax returns
• No restrictions on ownership
• Typically suitable for foreign owners
7. TAX ATTRIBUTES OF C CORPORATION
(continued)
• Tax losses in early years; NOLs
• Tax-free transfers to corporation
• Taxation of sale of owner stock
• Tax consequences of liquidation and dissolution
8. TAX ATTRIBUTES OF S CORPORATION
• No entity level taxation; pass-through to shareholders
• S corporation losses; shareholder basis issues; loans
• Restrictions on ownership; eligible shareholders
• Tax-free transfers to corporation
• Taxation of sale of owner stock
• Tax consequences of liquidation and dissolution
9. TAX ATTRIBUTES OF PARTNERSHIP
(INCLUDING LLC)
• No entity level taxation; pass-through to partners
• Tax-free transfers of property upon formation
• Receipt of partnership interest for services; capital vs. profits interest
• No restrictions on ownership
• General versus limited partners; basis issues
• Typically unsuitable for foreign owners
• Passive activity losses and "at risk" limitations
• Sale of partnership interests or assets; "hot assets"
10. TAX ATTRIBUTES OF INDIVIDUAL/
SOLE PROPRIETORSHIP operations
• No double-taxation; "Schedule C" reporting
• Limited liability; single member LLC vs. sole proprietorship
11. EMPLOYEE BENEFITS ISSUES
• Qualified plans vs. other employee benefits
• Non-discrimination rules
• Restrictions on 2% partners and S corporation shareholders
12. OTHER CONSIDERATIONS
• Cash vs. accrual basis accounting
• Accounting period
• State taxation
• Sales, use and service taxes
14. disclaimer
This slide presentation is informational only and was prepared to summarize
relevant business and tax considerations relating to entity formation and
early business operations. It does not constitute legal or professional
advice. You are encouraged to consult with a Dickinson Wright attorney if
you have specific questions relating to any of the topics covered in this
presentation.
15. biography and contact information
Thomas D. Hammerschmidt, Jr.
thammerschmidt@dickinsonwright.com
734.623.1602
PROFESSIONAL INVOLVEMENT
Member, Taxation Sections of the American Bar Association and State Bar of Michigan;
Chairman of State and Local Tax Committee, 1990-1992
Member, Michigan Association of Certified Public Accountants, 1981; Member of State
and Local Tax Committee, Single Business Tax Subcommittee Chairman, 1991-1996
PUBLICATIONS AND PRESENTATIONS
Frequent speaker, Michigan Association of Certified Public Accountants' annual
conferences and seminars on state tax matters
American Bar Association Section of Taxation, Contributing author, “State and Local
Taxation of Banks and Other Financial Institutions," 1995
The Tax Executive, co-author, “Michigan Nexus Developments”, March 1995
Michigan Bar Journal, “Resolving Michigan Tax Disputes," 1992
Lorman Education Services, co-author and speaker, "Michigan Sales & Use Tax," 1989-
1995
Wayne Law Review, “Annual Surveys of Michigan Tax Law,” 1988-1991
