Multi-Member LLC’s Face an IRS Tax Tsunami: New Online Form Store to the Rescue!
Fred Witt, J.D., LL.M. (in taxation)
Do you think you’re living in LLC paradise? Run for higher ground!
I’m an Arizona certified tax law specialist with over thirty-five years of experience as a tax attorney.
Working with my co-founder, Howard Abrams, Harvard Law School, we’re excited to announce the opening of our online form store. It’s taken over two years and two thousand hours to draft the forms and create the website. After months of “beta testing,” we’re ready to “go live!”
Instead of trying to focus on many business problems, we narrowly focused on only one – LLC operating agreements for multi-member LLCs.
Limited liability companies – LLC’s – are a popular choice of entity for business. If you own or advise an Arizona multi-member LLC taxed as a partnership, there are dramatic changes that will affect you.
These create two problems requiring your immediate action:
First, in 2018, there are new IRS partnership tax audit rules that apply. Today, an LLC’s operating agreement should identify who will be designated as the LLC’s “partnership representative” on its annual IRS Form 1065 filed on March 15.
Second, beginning September 1, 2019, a new Arizona LLC statute – the Arizona limited liability company act – takes effect. Generally, the new state law provides “default” rules that govern an Arizona LLC. This means that, without an operating agreement, the new statute may dramatically change your deal.
We have an easy solution.
Our online form store – https://taxllc.com – offers new LLC operating agreement forms for sale that are updated to reflect the new rules. With the ease of computer access, there is instant download.
One customer said:
“Thank you … for creating an easy to use online platform. I would highly recommend this program to any company that is an LLC and has to be compliant with the new partnership audit regime.”
So, check out our website – https://taxllc.com -- for more details.
Help is just a click away! Problem solved!
I’m excited to bring our forms to you! Where are the “Grand Opening” cake and balloons?
Disclaimer: This material is provided for general information only and is not legal, financial or tax advice. Please consult your own legal or tax advisor before making any decisions concerning your business or financial matters.