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  • Although this blog may address certain tax issues, it is not intended to constitute a reliance opinion as described in IRS Circular 230 and, therefore, it cannot be relied upon by itself to avoid any tax penalties.
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« Something to Keep in Mind when Using LLC Statements of Authority | Main | Be Careful When Creating a Board of Managers in an LLC Operating Agreement »

September 13, 2010

IRS Issues Proposed Regulations on Series LLCs

This morning the IRS issued proposed regulations providing that for "Federal tax purposes...a series organized under the laws of the United States or any other State, whether or not a juridical person for local law purposes, is treated as an entity formed under local law."  Since Iowa is one of a handful of states that permit Series LLCs, I'll have more to say on this subject once I digest the 34 pages of explanation of this seemingly simple statement.

-Marc Ward

Posted at 11:13 PM in IRS Rulings and Tax Cases Relating to LLCs, Series LLCs Under the New Iowa LLC Law |

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