Re:Is the new Zuckerberg fake charity an estate tax avoidanc...
by cdcarter on Friday December 04, 2015 @12:24AM
(#10674840)
If any of the shares the LLC holds are donated to a public charity, there will be no tax implications for the LLC, as if Z donated the shares directly or operated a private foundation, and without any of the freedoms of the LLC.
If any of the shares the LLC holds are liquidated by the LLC or granted to for-profits, situations where the "other reasons to create the LLC" are in effect, capital gains tax WILL be owed.
The LLC is as if he held the shares personally, when it comes to capital gains.
The estate situation is very different, not cut and dry, and that's what is being discussed in this article.
If any of the shares the LLC holds are liquidated by the LLC or granted to for-profits, situations where the "other reasons to create the LLC" are in effect, capital gains tax WILL be owed.
The LLC is as if he held the shares personally, when it comes to capital gains.
The estate situation is very different, not cut and dry, and that's what is being discussed in this article.