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Liquidating Business Entities: Navigating Your Way Through Corporate and Partnership Liquidations

Gain a better understanding of the rules and issues surrounding corporate and partnership liquidations and gain insight into potential planning opportunities available with a liquidation.

Liquidations are often viewed as the end of a business operation, however, a liquidation can also be utilized to achieve tax results in an acquisition, disposition or restructuring context that can minimize up front tax implications and provide tax planning benefits going forward. We will discuss the rules, requirements and tax implications of corporate and partnership liquidations, and provide examples of when liquidations can be utilized for planning purposes or to arrive at structuring solutions.

Runtime: 96 minutes
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Corporate Liquidations

  • Liquidation Defined
    • Taxable Liquidations Under Section 331
    • TaxFree Liquidations Under Section 332
    • Reporting and Documentation Requirements
  • Utilization of Liquidation for Planning and Restructuring Opportunities
    • Examples

Partnership Liquidations and Terminations

  • Overview of Four Typical Transactional Scenarios That End in Liquidation/Termination
  • Review the Subchapter K Governing Rules and Principles, Including:
    • Gain and Loss Allocations
    • Capital Account and Tax Basis Implications
    • Basis Carryover and Holding Period Rules
    • Asset Distributions and Partnership Divisions
    • Section 751 Property Implications
  • Review Application of Rules as Well as Planning Opportunities in the Context of the Four Typical Scenarios
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More Program Information

Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This course was last revised on April 25, 2019.

Call 1-866-352-9540 for further credit information.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Purchase Options

More Program Information

Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

David Gette, CPA

David Gette, CPA

Baker Tilly Virchow Krause, LLP

  • Tax director with Baker Tilly Virchow Krause, LLP with a focus on transaction tax matters including tax due diligence and structuring
  • Advises clients on tax consequences of domestic and cross-border transactions, acquisitions, dispositions, internal restructurings, reorganizations and other capital-related matters
  • Presents regularly on tax and mergers and acquisition related topics
  • Member of the AICPA and Minnesota Society of CPAs
  • B.S. degree in accounting, Moorhead State University
Joseph Schlueter

Joseph Schlueter

Baker Tilly Virchow Krause, LLP

  • Tax director with Baker Tilly Virchow Krause, LLP with 20 years of experience as a national tax resource on all matters related to the taxation of partnerships
  • Extensive experience advising small, middle market, and closely held business clients on structuring acquisition, disposition, and ownership succession transactions and the related tax implications
  • Active for more than 20 years in preparing and presenting webcasts and seminars for CPE and CLE organizations
  • J.D. degree, University of Iowa, College of Law; B.A. degree in accounting, University of Northern Iowa
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 401787
Published 2019
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