Practice Areas: Business Tax

Partnerships & Joint Ventures

McGuireWoods' business tax lawyers provide clients with business and legal tax solutions that help their business goals become a reality. Often, this involves the utilization of tax efficient entities such as limited liability companies (LLCs), partnerships, and other joint venture entities.

Because partnerships and LLCs offer significant planning flexibility, our lawyers regularly utilize these entities in structuring tax-efficient transactions that creatively meet our clients' business and financial objectives. For example, these entities often are used in structuring asset acquisitions and divestitures. Other uses include sales and redemptions of ownership interests, allocations of debt and preservation of tax basis, special allocations, preferred returns, property contributions, asset distributions, and capital account analysis.

In addition, LLCs and partnerships promote creative capital structures for business ventures, and they permit flexible management structures for joint ventures and other business alliances. We have significant experience in structuring LLCs and partnerships so as to maximize these benefits.

With this experience, our business tax lawyers regularly assist clients in forming and operating venture capital funds, and we provide counsel on related issues such as securities compliance, finance, and intellectual property. We also develop capital structures for e-commerce and other emerging market companies that provide clients with appropriate incentives for key employees and investors, including preferred returns, carried interests, and special profit and loss allocations.

We provide advice on the tax consequences of forming and syndicating partnerships, REITSs, REMICs, and other entities designed to hold real estate, stocks, securities, and other business assets. In connection with these transactions, our lawyers assist in preparing the necessary partnership agreements, offering memoranda, tax opinion letters, and other documents. In addition, we develop strategies for the tax-efficient utilization of LLCs and partnerships in asset securitizations, equipment leasing, real estate exchanges, low-income housing, rehabilitation and historic tax credit investments, and structured finance transactions.