Providing legal guidance for a client seeking to organize a new business requires a solid grasp of the positives and negatives of a myriad of corporate forms and frameworks. This indispensable reference guides attorneys through choosing the most appropriate form of business entity, and educates the corporate attorney as to the specific requisites for organizing and operating a corporation in Illinois. Also covered are tax consequences of choosing to operate in a given business form, the fiduciary duties a client may owe to the business and consequences for violating those duties, and navigating corporate breakups. This thorough resource also includes crucial editable forms for use organizing and operating a corporation; for example, a Shareholders’ Agreement.
Donald R. Tracy, Brown, Hay & Stephens, LLP, Springfield, General Editor
TABLE OF CONTENTS
Chapter 1 — Selection of the Business Entity
Julia A. Turk, Much Shelist, P.C., and Sarah A. Weersing, BDO USA, LLP, Chicago
Chapter 2 — Tax Considerations in Entity Selection
Michael G. Horstman Jr., Sorling Northrup, Springfield
Chapter 3 — Fiduciary Duties
Charles W. Murdock, Loyola University Chicago School of Law, Chicago
Chapter 4 — Formation of Illinois Corporations
Donna M. Goelz, Howard & Howard Attorneys PLLC, Peoria
Chapter 5 — Shareholders’ Agreements
Miriam Leskovar Burkland, Howard & Howard Attorneys PLLC, Chicago, and Mary A. Corrigan, Howard & Howard Attorneys PLLC, Peoria
Chapter 6 — Corporate Operating and Maintenance Issues
Todd M. Young, Hinshaw & Culbertson LLP, Chicago
Chapter 7 — S Corporations
William A. Price, GrowthLaw.com, Warrenville
Chapter 8 — Professional and Medical Corporations
Thomas P. Conley, Arnstein & Lehr LLP, Chicago
Chapter 9 — The Illinois Franchise Tax
Fred O. Marcus, Horwood Marcus & Berk Chartered, Chicago
Chapter 10 — Business Breakups
R. Stephen Scott and Pamela E. Hart, Scott & Scott, P.C., Springfield
