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Choice of Entity: Tax and Non-Tax Considerations


Gain a better understanding of the various considerations that go into making a choice of entity decision.

There are a number of entity forms that are available when a business or investment enterprise is started. Many lawyers, accountants, and business people fall back on a form that they have used in the past or is recommended to them by someone who is not familiar with of the variables associated with the different forms of business. Unfortunately, it is often the case that the recognition that a poor choice has been made only occurs after the error can't be corrected or can only be corrected at a significant cost in time, money, and effort.
This topic will help anyone who is responsible for establishing a business or investing in it to understand the factors that they should be considering in making entity choices, including the benefits and detriments of the different forms of doing business or holding investments. Failure to consider these issues may result in significant additional costs, including taxes, exposure to lawsuits and administrative costs.



Leo N. Hitt

Leo N. Hitt

Reed Smith LLP

  • Partner in the Pittsburgh office of Reed Smith LLP
  • Member of Reed Smith’s tax practice and former head of the Tax, Benefits, and Wealth Planning Group
  • Practice emphasizes all aspects of federal income taxation, with particular emphasis on the taxation of business entities, such as partnerships and corporations, securitized and other investment vehicles, including RICs, REITs, and REMICs
  • Conducts seminars and workshops on numerous topics for a large number of professional groups, including lawyers, accountants, and business people
  • Frequently writes for various publications on topics related to the areas of the federal income taxation of business entities and other related topics
  • Member of the Pittsburgh Tax Club and Allegheny Tax Society
  • Member of the Pennsylvania Supreme Court and U.S. Tax Court bars
  • J.D. degree, University of Pittsburgh School of Law; LL.M. degree in taxation, New York University School of Law; B.A. degree, University of Pittsburgh
  • Can be contacted at [email protected] or 412-288-3298

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