Income Tax and FLPs

ABA-CLE is sponsoring a teleconference and live audio webcast entitled Income Tax Implications of FLPs on Thursday, July 27, 2006, starting at 1:00 p.m. EST.

Here is the description of the program:

Learn about the federal income tax traps and opportunities presented at each stage of a family limited partnership’s existence from formation and operation through liquidation.

Attend this program to learn:

• when founding partners might recognize gain upon formation of the FLP
• why special allocations of partnership items might pose problems for traditional FLPs
• how to allocate built-in gains in the FLP
• how to avoid the perils of liquidating the FLP too soon after its formation
• when distributions of marketable securities and appreciated property from the FLP may be taxable

The faculty for this program are as follows:

Samuel A. Donaldson, Director – Graduate Program in Taxation, University of Washington, School of Law, Seattle, WA

Richard B. Robinson, Robinson & Diss PC, Denver, CO

Hugh F. Drake (Moderator), Brown, Hay & Stephens, LLP,  Springfield, IL