LAW 7605E - Partnership & LLC Taxation Lab.

3 Credit Hours

Description
This is an elective course. An attorney’s principal role for clients entering into a partnership or limited liability company agreement is to draft the parties’ business deal into the agreement in compliance with tax rules. Accordingly, this skills-based course will teach students how to translate substantive tax rules learned in Partnership & LLC Taxation into a written partnership or limited liability company agreement that complies with the tax rules and accurately reflects the parties’ business terms. Understanding and drafting provisions governing so-called “waterfalls,” capital accounts, allocations, and distributions in partnership and limited liability company agreements will be the primary subject of this course. Other common provisions of partnership and limited liability company agreements will be studied as well.