An authoritative source for more than 30 years, O'Neal and Thompson's Close Corporations and LLCs: Law and Practice contains step-by-step guidance for corporate planning, drafting, designing, and preventive law. This publication also: Suggests innovative, effective, and practical methods of adapting the traditional corporate framework into one suitable for close corporations Analyzes federal and state trends in legislation Provides reference tables for each state's corporation act Covers S corporation elections, including pros, cons, consequences, and fringe benefits Provides forms for charters, bylaws, and shareholder agreements, along with forms for professional corporations, including agreements for shareholders, bill of sale, stock purchase, and employment Covers limited liability companies Completely analyses major tax laws that affect close corporations