close

LLC

  • Oct 15, 2019LLCs From Start to Finish

    Norris McLaughlin, P.A., is pleased to have Victor S. Elgort, Chair of the firm’s Tax Group, speak at the National Business Institute (NBI) two-day seminar, “LLCs From Start to Finish.” Victor will present ” LLC or S-Corp Tax Considerations” and “How to Draft the LLC Operating Agreement” on day one.

    Course Description

    The attendees will be walked through the LLC cycle with practical how-to’s, practice pointers, cautionary advice, and sample forms. Stay up to date with the latest LLC legislation, trends and developments; consider all factors in entity selection and formation, and work through difficult operating agreement provisions. Attendees will also learn more focused skills and applications, such as forming LLCs to purchase real estate, utilizing series LLCs and more.

    Day 1: Legal Update, Entity Selection, Formation, Operating Agreements, and More

    1. New Jersey Legislative Update, Recent Trends, and Developments in LLCs (9:00-10:00 a.m.)
    2. The Revised Uniform Limited Liability Company Act (RULLCA): What You Need to Know (10:15 – 11:00 a.m.)
    3. LLC Nuts and Bolts: Single Member and Series (11:00 a.m. – noon)
    4. LLC or S-Corp Tax Considerations (1:00 – 2:15 p.m.)
    5. How to Draft the LLC Operating Agreement (2:30 – 3:30 p.m.)
    6. LLC Formation and Operation – Process, Procedures, and Pitfalls (3:30 – 4:30 p.m.)

    Day 2: Dividing Member Interests, LLC Conversions, Reorganizations and Disputes

    1. Dividing, Issuing and Transferring LLC Member Interests(9:00 – 9:45 a.m.)
    2. LLC Conversions and Reorganizations (9:45 – 10:30 a.m.)
    3. Using LLCs to Purchase Real Estate 10:45 – 11:45 a.m.)
    4. Using LLCs in Asset Protection and Estate Planning ( 11:45 a.m. – 12:30 p.m.)
    5. Preventing and Handling Disputes in the LLC (1:30 – 2:30 p.m.)
    6. Top LLC Mistakes to Avoid in Everyday Business Practices (2:45 – 3:30 p.m.)
    7. Legal Ethics for the LLC Attorney (3:30 – 4:30 p.m.)

    NJ CLE – 14.4
    NY CLE – 14.0
    PA CLE – 12.0
    CPE for Accountants/NASBA – 14.0

    When: Monday, November 4

    Registration: 8:30 – 9:00 a.m.
    Seminar: 9:00 a.m. – 4:30 p.m.

    Where: Holiday Inn Philadelphia – Cherry Hill

    2175 Marlton Pike W
    Cherry Hill, NJ 08002

    For more information and to register, please click here.

    Posted in: Business Law, Estate Planning & Administration, Events, Health Care & Life Sciences, Taxation, Venture Tech & Emerging Growth Companies, Victor S. Elgort | Tags: ,

  • Dec 07, 2018Victor Elgort to Present on Top LLC Mistakes for National Business Institute

    Victor S. Elgort, a Member of law firm Norris McLaughlin, P.A., will speak at the National Business Institute’s seminar, “Top 8 LLC Mistakes to Avoid in Everyday Business Practices: Avoid, Manage and Leverage Formation, Tax and Operating Agreement Oversights.” The seminar, approved for 8 NJ and NY CLE credits, 6.5 PA CLE credits, 8 CPE credits, and 0.7 IACET credits, will be held Thursday, December 20, 8:20 a.m. – 4:40 p.m., at the Holiday Inn Philadelphia-Cherry Hill in Cherry Hill.

    Elgort will lecture principally on “Taxation of LLCs – Top Attorney Mistakes”, with a focus on operating agreement drafting errors.  For more information or to register, visit the NBI website.

    Elgort often speaks at seminars on structuring complex LLC and partnership transactions. Most recently, on November 27, he spoke on a similar topic for the Nassau County Bar Association in New York, at a meeting jointly sponsored by three sections of the Bar Association, including the Corporation, Taxation, Banking & Securities Law Committees.  The theme was “All-Too-Common Mistakes in LLC Operating Agreements.”

    Elgort is Chair Emeritus of the firm’s Tax Group, practicing out of all three Norris McLaughlin locations, as he is admitted in New Jersey, New York, and Pennsylvania. His practice concentrates on business law and tax planning, including the structuring of partnerships and joint ventures, tax-saving real estate and business exit strategies, executive compensation, and domestic and international estate planning matters.

    Elgort organized and created the first limited liability company in New Jersey.  He authored the standard form operating agreements and other documents for limited liability companies published by Julius Blumberg, Inc., including both the forms for use in New Jersey and the generic forms offered nationwide for limited liability companies.

    In addition, Elgort is a Fellow of the American College of Trust and Estate Counsel.  He frequently lectures at tax planning courses, including continuing education seminars. He has authored extensive material published by the NBI, Lorman Education Services, Professional Education Seminars, and other national seminar companies, including topics such as “LLCS: Beyond the Basics”, “LLC Business Law Bootcamp”, “LLCs: Advising Small Business Start-Ups and Larger Companies in New Jersey”, “Partnerships, LLCs and LLPs: Organization and Operation,” “Asset Protection Planning in New Jersey,” “Limited Liability Companies in New Jersey,” “Transferring Business Wealth,” “Administration of the Estate in New Jersey,” “Planning Opportunities with Living Trusts in New Jersey,” “New Jersey Probate: Beyond the Basics,” “A Practical Guide to Estate Administration in New Jersey,” and “Family Limited Partnerships and Limited Liability Companies in New Jersey.”

    Elgort received his undergraduate degree with high honors from Rutgers University, his J.D. with honors from Cornell University, and his LL.M. in Taxation from New York University. He is included in the Trusts and Estates section of The Best Lawyers in America and has been named by his peers as a New Jersey Super Lawyer in the Tax section.

    Posted in: Business Law, News, Victor S. Elgort | Tags: , , , , , , , , , ,

  • Oct 24, 2018Peter Hutcheon Receives 2018 ABA LLC, Partnerships and Unincorporated Entities Content Recognition

    Peter D. Hutcheon, a Member of law firm Norris McLaughlin, P.A., has been awarded the “Professor Elizabeth ‘Beth’ S. Miller Content ‘Recognition’” by the American Bar Association (ABA) Section of Business Law’s LLC, Partnerships and Unincorporated Entities Committee for his contributions.  Highlighted were his long tenure as editor of The PUBOGRAM, his work on legislative drafting committees and on the uniform acts, his participation in Committee seminars as well as other ABA committees, and his over 30 columns in The PUBOGRAM.

    Hutcheon practices primarily in the areas of business governance, commercial transactions, securities, banking, and finance.  He regularly counsels management of public and private companies and banking institutions on governance matters and is an expert on indemnification and insurance issues affecting directors and officers.  Hutcheon represents clients seeking investment capital from private placements, venture capital and private equity deals, and firm commitment underwritten offerings of securities.  Many of these financings involve high-tech businesses.  Hutcheon is experienced with securities matters ranging from stock options to dividend reinvestment plans, is familiar with bank regulatory matters, and has worked on mergers and acquisitions in the banking industry.  He is experienced in corporate and financing transactions and has represented both buyers and sellers in public and private corporate acquisition transactions, including public/private partnership deals, in deals involving over $2 billion.

    A long-time member of the ABA’s Section of Business Law, LLC, Partnerships and Unincorporated Entities Committee, Hutcheon is one of three Observers to the Beneficial Ownership Task Force and was editor of the Committee’s newsletter, The PUBOGRAM, for 16 years.  He is the 2005 recipient of the Martin I. Lubaroff Award for his lifelong service to this Committee.  He was a director for 22 years (including 2 years as chair) of the New Jersey State Bar, Corporate and Business Law Section, and has chaired the State Bar’s Banking Law Section.  He was chairman of the New Jersey Corporate and Business Law Study Commission from its inception in 1989 to 2002, providing reports and suggestions on business law developments to the New Jersey Legislature and the Governor.  He chaired the New Jersey Securities Advisory Committee appointed by the Attorney General from 1995 to 2001 and has served as the ABA’s Liaison to the New Jersey Bureau of Securities for over 37 years.

    Hutcheon is listed in the Corporate Law, Mergers & Acquisitions Law, and Securities Law sections of the current edition of The Best Lawyers In America and has been included on the list of New Jersey Super Lawyers in the Business/Corporate section every year since its inception in 2005.  Additionally, he has authored numerous articles on business-related law topics including limited liability companies, securities, and directors and officer’s liability.

    Hutcheon received his undergraduate degree, magna cum laude, from Williams College and his J.D., cum laude, from Harvard Law School.

    Posted in: Business Law, News, Peter D. Hutcheon | Tags: , , , , , , , , , , ,

  • May 15, 2018Business Law Lunch & Learn

    Starting your own business and have some questions about what to do next? Looking to take your business to the next level? Michael J. Locke from Norris McLaughlin, P.A. will be joining Cowerks on Friday, June 1 to shed light on the advantages and disadvantages of LLCs and corporations along with solutions to common hurdles in growing businesses.

    Your ticket includes 1-on-1 consulting with Michael, a desk in Cowerks common area for the day, and catered lunch from a local Asbury Park restaurant!

    When:
    Friday, June 1, 2018
    12:00pm to 2:00pm

    Where:
    Cowerks at the Lakehouse
    619 Lake Avenue, 3rd Floor
    Asbury Park, NJ 07712

    To Register:

    Lunch & Learn with Business Attorney from Norris McLaughlin, P.A.

    Friday, Jun 1, 2018, 12:00 PM

    Cowerks at the Lakehouse
    619 Lake Ave, 3rd Floor Asbury Park, NJ

    11 Makers, Shakers, & Doers Went

    Starting your own business and have some questions about what to do next? Looking to take your business to the next level? Michael Locke from Norris McLaughlin, P.A. will be joining us for a day to shed light on the advantages and disadvantages of LLCs and corporations along with solutions to common hurdles in growing businesses. Your ticket inc…

    Check out this Meetup →

    Posted in: Business Law, Events, Michael J. Locke | Tags: , , , ,

  • Nov 01, 2017Victor Elgort Presents Advantageous Uses of LLCs for NBI

    Victor S. Elgort, a Senior Member of Bridgewater-based law firm Norris McLaughlin, P.A., will speak at “LLCs: Beyond the Basics,” a one-day course presented by the National Business Institute (NBI) discussing how to capitalize on the advantages of LLCs on Monday, November 6, 8:00 a.m. – 4:40 p.m., at the Holiday Inn in Princeton.

    Elgort will highlight advantageous uses of LLCs, including using an LLC to hold real property, hold tangible personal property or intangible assets, as a valuation “freeze” entity, in estate planning, to hold life insurance policies, for venture capital projects and corporate joint ventures, and in lieu of corporate subsidiaries.  For more information or to register, visit the NBI website.

    Elgort is Chair of the firm’s Tax Group, practicing out of all three Norris McLaughlin, P.A. locations, as he is admitted in New Jersey, New York, and Pennsylvania. His practice concentrates on business law and tax planning, including the structuring of partnerships and joint ventures, tax-saving real estate and business exit strategies, executive compensation, and domestic and international estate planning matters.

    Elgort organized and created the first limited liability company in New Jersey.  He has authored the standard form operating agreements and other documents for limited liability companies published by Julius Blumberg, Inc., including both the forms for use in New Jersey and the generic forms offered nationwide for limited liability companies.

    In addition, Elgort is a Fellow of the American College of Trust and Estate Counsel.  He frequently lectures at tax planning courses, including continuing education seminars. He has authored extensive material published by the NBI, Lorman Education Services, Professional Education Seminars, and other national seminar companies, including “Partnerships, LLCs and LLPs: Organization and Operation,” “Asset Protection Planning in New Jersey,” “Limited Liability Companies in New Jersey,” “Transferring Business Wealth,” “Administration of the Estate in New Jersey,” “Planning Opportunities with Living Trusts in New Jersey,” “New Jersey Probate: Beyond the Basics,” “A Practical Guide to Estate Administration in New Jersey,” and “Family Limited Partnerships and Limited Liability Companies in New Jersey.”

    Elgort received his undergraduate degree with honors from Rutgers University, his J.D. with honors from Cornell University, and his LL.M. in Taxation from New York University. Elgort is included in the Trusts and Estates section of The Best Lawyers in America and has been named by his peers as a New Jersey Super Lawyer in the Tax section.

    Posted in: Estate Planning & Administration, News, Victor S. Elgort | Tags: , , , , , , , , ,

  • Dec 07, 2016Victor S. Elgort Speaks On LLC Operating Agreements

    Victor S. Elgort, a Senior Member of the Bridgewater-based law firm Norris McLaughlin, P.A., will speak at “LLC Operating Agreements,” a one-day course presented by the National Business Institute on Monday, December 19, from 9:00 a.m. to 4:30 p.m. at the Courtyard by Marriott in Princeton.

    Elgort will speak on “Tax Mistakes Made in Distribution, Allocation and Entity Selection” and “Transfer Restriction Issues, Right of First Refusal, Impasse (Put/Call), Capital Call and Dissolution Provisions.”  For more information or to register, visit the NBI website.

    Elgort is Chair of the firm’s Tax Group. His practice concentrates on business law and tax planning, including the structuring of partnerships and joint ventures, tax-saving real estate and business exit strategies, executive compensation, and domestic and international estate planning matters.

    Elgort organized and created the first limited liability company in New Jersey.  He has authored the standard form operating agreements and other documents for limited liability companies published by Julius Blumberg, Inc., including both the forms for use in New Jersey and the generic forms offered nationwide for limited liability companies.

    In addition, Elgort is a Fellow of the American College of Trust and Estate Counsel.  He frequently lectures at tax planning courses, including continuing education seminars. He has authored extensive material published by the National Business Institute, Lorman Education Services, Professional Education Seminars, and other national seminar companies, including “Partnerships, LLCs and LLPs: Organization and Operation,” “Asset Protection Planning in New Jersey,” “Limited Liability Companies in New Jersey,” “Transferring Business Wealth,” “Administration of the Estate in New Jersey,” “Planning Opportunities with Living Trusts in New Jersey,” “New Jersey Probate: Beyond the Basics,” “A Practical Guide to Estate Administration in New Jersey,” and “Family Limited Partnerships and Limited Liability Companies in New Jersey.”

    Elgort received his undergraduate degree with honors from Rutgers University, his J.D. with honors from Cornell University, and his LL.M. in Taxation from New York University. Elgort is included in the Trusts and Estates section of The Best Lawyers in America and has been named by his peers as a New Jersey Super Lawyer in the Tax section.

    Posted in: News, Taxation, Victor S. Elgort | Tags: , , , , , , ,

  • Nov 22, 2016Milan D. Slak to Present CPA Class

    Milan D. Slak, a Member of the law firm Norris McLaughlin, P.A., will present a one hour continuing education class on self-employment tax and LLC operating agreement provisions for the CPAs at Buckno, Lisicky & Company.  The class will be held on Tuesday, December 6.

    A resident of Allentown, Slak focuses on all areas of taxation, business law, and estate and succession planning.  As a licensed CPA, he handles corporate, partnership, and individual taxation matters, and addresses tax issues and resolves tax disputes with the Internal Revenue Service and state governmental taxing authorities.  He works closely with clients to design and advise on a variety of tax planning initiatives and transactions involving federal and state tax law; mergers and acquisitions; capital investment; corporate, limited liability company, and partnership structuring; operation, reorganization, and termination; the use and taxation of trusts; and estate and succession planning for owners of closely held businesses.

    Additionally, Slak assists in the formation and organization of business entities, including corporations, S corporations, C corporations, limited liability companies, and partnerships.  He works with clients to properly structure the governing documents for these entities and to minimize income, net investment income, and self-employment taxes.  Slak also works with clients to design and implement estate, succession, and gifting strategies to achieve personal goals and minimize taxes.

    Over the past 10 years, Slak has been a speaker at local and national conferences on topics including choice of entity, capitalization structure, tax provisions of the healthcare act, the net investment income tax, and the taxation of S corporations, limited liability companies, and partnerships.

    Slak also works with franchise owners on business, personal, succession, estate, gift, and tax minimization strategies.  He focuses on achieving client goals in a tax efficient manner.

    Slak earned his LL.M. in Taxation in 2001 and J.D. in 1995 from Villanova University School of Law, and his B.B.A. in Accounting in 1991 from the University of Toledo.

    Posted in: Milan D. Slak, News, Taxation | Tags: , , , ,

Categories