How Could Drafting Decisions Be Affected By New LLC Act?
Note: All articles on Utah’s New LLC Act are in the process of being updated to conform to the changes made before it was enacted in 2014. Please check back to see the revised articles. Drafting decisions for an LLC are definitely affected by the New LLC Act–that is, for LLCs subject to the New […]
When Does New LLC Act Take Effect?
Note: All articles on Utah’s New LLC Act are in the process of being updated to conform to the changes made before it was enacted in 2014. Please check back to see the revised articles. Utah’s new ‘uniform’ LLC Act takes effect July 1, 2012 for Utah LLCs formed on or after that date. [§48-3-1405(1)(a)] For […]
What Changes Do SB 131 and New LLC Act Make to Existing LLC Act?
Note: All articles on Utah’s New LLC Act are in the process of being updated to conform to the changes made before it was enacted in 2014. Please check back to see the revised articles. Utah’s New ‘Uniform’ LLC Act is touted to be a complete replacement of the existing Utah LLC statute. It is […]
How Could ‘Choice of Entity’ Be Affected By New LLC Act?
Note: All articles on Utah’s New LLC Act are in the process of being updated to conform to the changes made before it was enacted in 2014. Please check back to see the revised articles. The traditional approach to advising clients as to ‘choice of entity’ when forming a new business organization has been to […]
How Could Due Diligence Be Affected By New LLC Act?
Note: All articles on Utah’s New LLC Act are in the process of being updated to conform to the changes made before it was enacted in 2014. Please check back to see the revised articles. In any transaction that involves an LLC on one side (or both sides) due diligence is a must. Due diligence is […]
How Could Fiduciary Duties Be Affected By New LLC Act?
Note: All articles on Utah’s New LLC Act are in the process of being updated to conform to the changes made before it was enacted in 2014. Please check back to see the revised articles. 1. The Existing LLC Act prohibits fiduciary duties from being reduced by the operating agreement or other documents. The New […]
What is Utah’s New ‘Uniform’ LLC Act?
Note: All articles on Utah’s New LLC Act are in the process of being updated to conform to the changes made before it was enacted in 2014. Please check back to see the revised articles. Utah adopted a new ‘uniform’ LLC act to be effective July 1, 2012. [Read the full text of the New LLC […]
Utah’s New ‘Uniform’ LLC Act
Note: All articles on Utah’s New LLC Act are in the process of being updated to conform to the changes made before it was enacted in 2014. Please check back to see the revised articles. Welcome After reviewing Utah’s impending New ‘uniform’ LLC Act, attorneys at Armstrong Law Offices, P.C. prepared this information to help our clients and […]
Guidelines For Operating Family LLCs
Over the years, decisions from the U.S. Tax Court have developed guidelines for when family limited partnerships will be recognized for tax purposes and when they won‛t. Those guidelines apply as well to family LLCs. The current leading case for what NOT TO DO is the 1997 decision of the Tax Court involving a Salt […]