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Matthew D. Carlson

Qualified Opportunity Zone Investments: Distribution Waterfalls

October 8, 2019

The Qualified Opportunity Zone program was enacted through the Tax Cuts and Jobs Act of 2017.  The Department of Treasury has provided guidance concerning the tax incentives available under this program through two tranches of Proposed Regulations released in 2018 and 2019.  The Internal Revenue Code and Proposed Regulations have strongly encouraged that Opportunity Zone investments be […]

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November, 7 2019 – Building Opportunity Conference

October 8, 2019

Moss Adams is holding their annual Building Opportunity Conference in Sacramento on Thursday November 7, 2019. WKBKY Attorney Matt Carlson will be speaking at the event on Exploring the ‘Opportunity’ of Opportunity Zones. Please join us. The event location is: The Sutter Club1220 9th StreetSacramento, CA 95814  Click here for all the details.

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Should You or Shouldn’t You Dissolve an LLC When the Business Is Over?

June 17, 2019

Originally published in the California Business Law Reporter – March 2019 – Volume 40 – Number 5.   Introduction One of the most frequently asked questions we encounter in our practice is whether a Belan. Clients usually want to avoid the necessity of paying the minimum franchise tax of $800 in California, filing tax returns […]

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Musings on Implications of the Repeal of the Technical Termination Provisions Under IRC 708 for 1031 Exchanges

June 17, 2019

The real estate industry customarily uses limited liability companies or limited partnerships(herein “partnerships”) to hold real estate assets due to the tax flexibility under Subchapter K.  A common issue arises when it comes time to sell the underlying real estate asset and some owners (herein “owners” or “partners”) want to exchange while others do not.   […]

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New Legislation: Qualified Domestic Corporations & LLCs May Apply For Voluntary Administrative Dissolution Or Cancellation

January 17, 2019

Effective January 1, 2019, the Franchise Tax Board (“FTB”) has the authority to administratively dissolve suspended entities.  The FTB’s new procedures are available for both qualified domestic corporations as well as qualified domestic limited liability companies (“LLCs”). Assembly Bill No. 2503 (“AB 2503”) was approved by Governor Brown on September 22, 2018, and authorized the […]

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IRS Issues Final Return Preparer Regulations

December 17, 2018

Back in August, we announced that WKBK&Y attorney Matthew D. Carlson (member of the Taxation Section of the CLA, and Vice Chair of the Income and Other Tax Committee) and other members of the California Lawyers Association Taxation Section had submitted comments to the IRS and Treasury regarding proposed regulations under IRC § 6695(g), Tax Return Preparer Due […]

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