Corporate And Civil LegalAttend executions of wills, actual estate closings, depositions, court or administrative hearings and trials with the attorney. The data in any resource collected in this virtual library really should not be construed as legal suggestions or legal opinion on certain information and ought to not be considered representative of the views of its authors, its sponsors, and/or ACC. An additional civil law classification relates to the advantage every celebration expects to receive from the agreement.

If the LLC lacked two of the 4 corporate qualities considered by the IRS to be crucial (continuity of life, centralization of management, limited liability and absolutely free transferability of interests), then the Treasury regulations would treat the LLC as a partnership for tax purposes. In 1975, corporate lawyers advising Hamilton Brothers Oil Company lobbied for the introduction of a new organization type, the LLC.

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