Navigating Legal and Tax Essentials for LLC Operating Agreements
Date: Oct 27, 2026 9:00 a.m. – 12:00 p.m.
Location: Online
Member Price: $159.00
Non-Member Price: $199.00
Section Price: $0.00
Areas of Law: Business, Taxation
Earn up to 3.3 credits! (More Information)
Keynote
Moderator
- Jason D. Navarino, Esq.
- Past Chair, Taxation Law Section
McCarter & English, LLP, Newark
Presenters
- Len Nitti, CPA, MST
- WilkinGuttenplan, PC, East Brunswick
A well-crafted LLC operating agreement does far more than define membership, governance, capitalization, and profit sharing. As the foundational document governing an LLC, it establishes the legal rights and obligations of members and managers while also driving the tax treatment of the entity and its owners, often in ways practitioners overlook.
Join our distinguished panel for this in-depth program that will examine the critical legal and tax considerations every operating agreement should address. Practitioners will walk away with the insight needed to draft operating agreements that not only govern the business effectively but also withstand tax scrutiny and optimize outcomes for members.
Topics include:
- Entity classification rules applicable to LLCs
- The mechanics and tax rules behind allocations and distributions
- How forced/target allocations works and how to draft them into an operating agreement
- Maximizing qualified business income opportunities
- Tax issues with respect to membership interest transfers
- Using profits interests to provide tax-advantaged equity to service providers
- Whether to form an LLC in New Jersey or elsewhere
- The importance of having a written operating agreement
- Key aspects of decision-making and information rights
- Understanding capital contributions, commitments, and calls
- Options for distributing cash and property to members
- How to address membership interest transfers and exits, including buy-sell provisions
- Contemplating operating agreement amendments
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