Essentials of Limited Liability Companies (CPE Course)

CPE Credit: 1.5 hours

Course Type: Downloaded PDF materials with online test

Price (with PDF Textbook): $20

Course Description
A limited liability company is quite a useful type of business entity, but only under certain circumstances. In the Essentials of Limited Liability Companies course, we discuss the advantages and disadvantages of an LLC, as well as its capital structure, management alternatives, and related tax issues. The course also addresses how to form an LLC and how to convert to an LLC from a different legal structure. The course is designed to give you a good grasp of the essential issues related to limited liability companies. Note: This course does not qualify for enrolled agent training credit.

Author: Steven Bragg

Course Number: TX1039

Learning Objectives

  • Recognize the conditions under which an LLC is allowed to operate.

  • Specify the type of record keeping that should be applied to an LLC.

  • Identify how a capital interest represents the ownership interests of an LLC’s members.

  • Recognize how a negative capital balance can arise.

  • Identify the situations in which an LLC can repudiate a contract signed by one of its members.

  • Recognize the tax issues associated with the start-up capital of an LLC.

  • Specify the tax returns that must be filed by an LLC or its members.

Level: Overview

Instructional Method: QAS Self-Study

NASBA Category: Taxes

Prerequisites: None

Advance Preparation: None

Program Registration Requirements: Click on "Purchase Course" near the top of this page to pay for and access the course. You will then be able to download the course as a PDF file, then take an on-line examination, and then download a certificate of completion if you pass the examination.

Program Refund Policy: For more information regarding administrative policies concerning complaints, refunds, and other matters, see our policies page.

AccountingTools, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have the final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

The NASBA sponsor identification number for Accountingtools, Inc. is 115881.

AccountingTools is an IRS Approved Continuing Education Provider. We are compliant with the requirements for continuing education providers (as described in sections 10.6 and 10.9 of the Department of Treasury’s Circular No. 230 and in other IRS guidance, forms, and instructions). Our IRS Approved Continuing Education Provider number is 72821.