Limited Liability Companies in Virginia (Online Seminar)

A pre-recorded streaming video replay from the September 2017 webcast, 2017 Limited Liability Companies in Virginia.

When the LLC emerged on the scene in the early 1990s, few could have envisioned how quickly it would become the business entity of choice. In Virginia, as in most states, annual LLC formation filings far outpace formation filings for all other entities combined.

With this popularity has come rapid development in the law of LLCs. The LLC’s flexible, customizable nature—one of the reasons for its huge popularity—has led to significant legislative and court responses in Virginia and other key jurisdictions such as Delaware. These responses have shaped and continue to impact how Virginia lawyers advise clients that are forming, operating, and winding down LLCs.

This seminar will focus on practical tips and techniques for using Virginia LLCs in many business contexts—from holding real estate and investments, to serving as a joint venture vehicle, to acting as the operating entity for a large, complex business. Emphasis will be placed on recent trends in the law that impact how the practitioner drafts governing documents for the LLC and advises clients regarding statutory and fiduciary duties imposed by ever-evolving LLC law. The seminar will also discuss recent tax changes (for example, the New Partnership Audit Procedure) and techniques to operate LLCs tax-efficiently in light of the current tax environment.

ABOUT THE SPEAKERS

Allan G. Donn, Willcox & Savage, P.C. / Norfolk

Allan G. Donn practices primarily in the areas of unincorporated business organization law, taxation, and estate planning. He also lectures and writes on those subjects.  He is a co-author of The Revised Uniform Partnership Act (Thomson Reuters 2016-2017 edition) and is the author of a chapter on limited liability entities in the Elgar Research Handbook on Partnerships, LLCs and Alternative Forms of Business Organizations (2015).

Mr. Donn is a member of Willcox & Savage P.C. in Norfolk. He served as the Chairman of the Joint Committee on the Limited Liability Companies of The Virginia Bar Association that drafted the Virginia Limited Liability Company Act. He served as the ABA Advisor to the Drafting Committee of the National Conference of Commissioners on Uniform State Laws to Revise the Uniform Partnership Act, and the Chairman of the Joint Editorial Board on Uniform Unincorporated Business Organization Acts of NCCUSL and the ABA. He was the Reporter for the NCCUSL Study Committee to recommend whether NCCUSL should undertake uniform series entity legislation. NCCUSL has appointed a Drafting Committee for the Series of the Unincorporated Business Entities Act, for which he is the ABA Advisor. Mr. Donn is a graduate of the University of Virginia (B.A.), Harvard Law School (LL.B.), and Georgetown University Law Center (LL.M. in Taxation). Mr. Donn is the editor of Virginia CLE^®’s handbook Limited Liability Companies in Virginia (2017 edition).

C. Brandon Spalding, Jr., Hirschler Fleischer, P.C. / Richmond.

C. Brandon Spalding, Jr., author of Chapter 2 of Virginia CLE^®’s handbook Limited Liability Companies in Virginia (2017 edition), is a partner in the Richmond office of Hirschler Fleischer, P.C., where he practices primarily in the areas of privately held businesses, mergers and acquisitions, and private securities offerings.  Mr. Spalding received his B.A. in History from the University of Virginia and his J.D. from Emory University School of Law, where he served as a Managing Editor of the Bankruptcy Developments Journal. He is a member of the Richmond Bar Association, The Virginia Bar Association, and the American Bar Association. He was selected as a “Rising Star” in the Business/Corporate category by Virginia Super Lawyers (Thomson Reuters 2014).