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Tax Traps in Business Formations (teleseminar)
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When: 06/27/2016
1:00 PM to 2:00 PM
Where: United States
Contact: (404) 521-0781

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One-hour CLE programs are just a phone call away
Convenient, affordable, timely and informative
An 800 number connects you to nationally recognized practice leaders who will speak on important issues and emerging trends in the law. You can also pose your own questions to the speakers. Written materials and other details are emailed in advance to pre-registrants.

1 CLE hour

Forming a new business entity may seem like an easy process of filling in a few details on a form, but in truth the process is laden with risks – tax risks and other risks.  Often one of the owners of the new company wants to contribute his or her services.  Depending on how the contribution is structured – what services the person is giving to and ownership interest the he or she is receiving back from the company – there may be substantial and adverse tax consequences. When property subject to debt or other encumbrances is contributed to the new company there are also numerous tax implications for the company and the contributor – not to mention creditor issues.  There are also a host of subtle distinctions with outsized real-world consequences when structuring economic rights such as the right to distributions versus the tax allocations, if any.  This program will provide you with a practical guide to the tax and other major traps when forming a new business entity.  

Taxability on the contribution of services – valuation, timing, and character
Understand how the receipt of different type economic rights impacts stockholder/member/partner taxation
Transferring property subject to debt – credit and tax issues 
Economic right to distributions v. tax allocations and responsibilities 
Special issues involved in forming S Corps and LLCs
Valuation of ownership interests over time and relationship to transferability restrictions 
Reviewing information and voting rights 


Allen Sparkman
is a partner in the Houston and Denver offices of Sparkman Foote, LLP.  He has practiced law for over thirty years in the areas of estate, tax, business, insurance, asset protection, and charitable giving.  He has written and lectured extensively on choice-of-entity, charitable giving and estate planning topics.  He is the Colorado reporter for the books "State Limited Partnership Laws" and "State Limited Liability Company Laws," both published by Aspen Law & Business.  He has also served as president of the Rocky Mountain Estate Planning Council.  Mr. Sparkman received his A.B. with honors from Princeton University and his J.D. with high honors from the University of Texas School of Law.


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