Estate and Succession Planning
Dean Mead’s Estate and Succession Planning Department is one of the largest and most respected groups of estate planning attorneys in Florida. We are frequently…
Charitable organizations now have more flexibility to use single member limited liability companies (“LLCs”). In Notice 2012-52, the IRS stated that contributions to a single member LLC that is wholly owned by a section 501(c)(3) organization will be treated as a contribution by the donor to the parent charitable organization. As an example of the impact of this Notice, charities will be able to use a wholly-owned LLC as a fundraising organization without concerns over the deductibility of contributions to the LLC. The Notice is a welcome pronouncement for the tax-exempt organization community.
