Location: Via telephone

Additional Info: Oregon State Bar

Cost: $65

Description:

Like-kind exchange techniques that are often used for real estate transactions can also be used for the sale of business interests.

Though often overlooked when structuring a business sale, like-kind exchanges can be used to defer the tax on the sale.

This program provides you with a practical guide to the circumstances in which like-kind exchange techniques make the most sense, how to structure the transaction and allocate value across asset classes for optimal outcomes, and how to treat liabilities.

The program also discusses common structuring and drafting traps.

• How Section 1031 like-kind exchanges can be used for the sale of business interests
• Advantages and disadvantages over other business sales techniques
• Issues for real estate, personal property, and intangibles in the sale
• How to allocate liabilities among assets
• Relationship of like-kind exchanges to Section 338(h)(10) asset elections
• Practical tips on how to make the deal work

1 General CLE credit

Speaker:
Glenn M. Johnson is a principal in the national tax department of Ernst & Young LLP in Washington, D.C. He has extensive experience advising clients on like-kind exchange transactions involving real estate, intangibles, and equipment and on multiple-asset exchange programs. He has assisted many companies, including banks, captive finance subsidiaries, and national rental and leasing companies, in designing and implementing mass-asset like-kind exchange programs. Mr. Johnson earned his LL.M. in taxation from Georgetown University Law Center.