Bruce Ely, Will Thistle, and Sims Rhyne Coauthor Chapters in 2014 Edition of Keatinge and Conaway on Choice of Business Entity

Firm News

The 2014 edition of Keatinge and Conaway on Choice of Business Entity was released recently and is available for purchase from Thomson Reuters/Westlaw. The 9th edition is again authored by nationally-known speakers and LLC experts Bob Keatinge of Holland & Hart LLP in Denver and Delaware Law Professor Ann Conaway, along with Bradley partner Bruce Ely, who co-chairs the firm’s State & Local Tax Practice Group. Will Thistle and Sims Rhyne, associates with the firm, co-authored with Mr. Ely an extensive chapter on the state taxation of pass-through entities as well as in-depth charts covering the state taxation of LLCs and LLPs.

Written from the client’s perspective, Keatinge and Conaway on Choice of Business Entity offers insight into selecting the most suitable form and structure for closely held businesses. It provides a three-part analysis of different business entity formats, and which to choose based on the business activities and needs of the owners. The three approaches discussed are: (1) horizontal – comparing the various characteristics of different entities and structures; (2) vertical – identifying the characteristics that are important to the particular type of business; and (3) integrational – assisting the practitioner in resolving conflicts between entity choices and making the final choices necessary to select and structure the organization.

The unique and helpful features of Keatinge and Conaway on Choice of Business Entity, the Business Form Chart, the Choice of Entity Checklist, and the State Tax Treatment Charts, have been updated to reflect the latest changes in the law. These components will assist the practitioner by providing an overview of all aspects of entity types, including tax consequences, and how the client’s particular circumstances fit within one or more entity.

Some of the 2014 edition’s highlights are:

  • Latest amendments to the Uniform Limited Liability Company Act
  • Tax rates for owners of pass-through entities who are also employees of the entity
  • Update of state-by-state coverage of non-conformity with the IRS check-the-box regulations for pass-through entities and which states impose withholding or composite return requirements for non-resident owners
  • Applying the new net investment income tax, which became effective January 1, 2014, to pass-through entities and their owners

The text also includes a well-annotated discussion of tax issues at both the state and federal level specific to choice of entity concerns. One of the most popular features of Keatinge and Conaway on Choice of Business Entity is a comprehensive chart giving an at-a-glance comparison of how specific issues affect all types of entities and a glossary defining a wide range of terms.

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