Make a joke if you must (keep it nice, and remember you may need his services some day) , but take a moment to recognize the commitment and accomplishment in completing law school AND passing the bar first time out.
Way to go Midtowner!
:woowoo:

Congrats Midtowner!

congratulations! -M

Congratulations, counselor.

Hey mid, I suppose the folks at your office have already told you about the time honored tradition of the new admittee buys the first round, right?

Congrats again sir.

Thanks all.

Congratulations Mid!!!! Awesome job!

Congratulations! You have made it to the end of one long challenging road, and headed onto the on-ramp of life adventures in the law.

Any public defender or pro bono time planned for the future after you earn back your tuition?

Congratulations, friend!! Have you looked at your bar number about a zillion times with happiness? Enjoy - you earned it.

Congratulations to you. I remember the day I found out I had passed the CPA exam and I had no one to share the news with but my one week old baby girl. She didn't care much. Is the internet great? You get to share your news with lots of people.

Thanks all!

All these lawyers and CPAs here... hell.. I might as well ask.

Has anyone done an LLC's tax distribution so that the Manager had sole discretion over how the dividends were distributed (i.e., owning shares means nothing), but the tax liability for those distributions was allocated with the distributees (rather than by the members' pro rata shares)??

Every single form I have allocates both the profit distributions and the tax liability according to pro rata shares and I want nothing to do with that.

It's all work with you, isn't it, Mid? ;)

Congrats, my dear. Time to celebrate!

(not to mention, perhaps I deserve some congrats for putting up with him this whole time? Ha!!!!)

Mid,

I've no clue as to the answer on your Q, but I can dang sure point you to those who do.

Now that you are licensed and have your number, join oba-net.org, a lawyers only forum provided through OBA. Your Q would fit well there and you most likely will get a solid answer. Also, long timers there enjoy seeing new members show up.

It's all work with you, isn't it, Mid? ;)

Congrats, my dear. Time to celebrate!

(not to mention, perhaps I deserve some congrats for putting up with him this whole time? Ha!!!!)

I hope he has told you that just about every PM he and I have had has included my pointing out that YOU have been the one doing the heavy lifting!! Congratulations and a job well done to you, as well!

And yes, congrats to bandnerd too. Married folk don't tend to get through very well without their better half's willingness to put up with a lot
8^)

Mid,

I've no clue as to the answer on your Q, but I can dang sure point you to those who do.

Now that you are licensed and have your number, join oba-net.org, a lawyers only forum provided through OBA. Your Q would fit well there and you most likely will get a solid answer. Also, long timers there enjoy seeing new members show up.

I've been meaning to join that, too.

I hope he has told you that just about every PM he and I have had has included my pointing out that YOU have been the one doing the heavy lifting!! Congratulations and a job well done to you, as well!

You're joking, right? Not a word. Mid's not one to share the limelight ;)

Well, you're a teach. Get him a blackboard, some chalk and have him stay after school and write lines
8^)

Ah yes, my own little Bart Simpson.

could be worse, coulda married Milhouse

Congratulations, Midtowner!!!

You're joking, right? Not a word. Mid's not one to share the limelight ;)

I tell you true. Surely he took my advice to appreciate you even if he didn't say anything!

Hrmph. Typical self absorbed law student. I remember it well... It gets better. In about three years, he will start thinking straight, again.

Yes Bandnerd, you deserve a huge congrats too!!!! Kudos to both of you! You both have a lot of postive life changes happening right now .. enjoy!!!!

You both deserve every happiness and I'm proud of you both!

I'm pretty clueless about this and this might be silly .. and it's not that you'd want to pay for it.. but you might find something similar to what you are looking for here:

I'm throwing a dart at a dartboard here and hoping it might help you.... lol - probably not though!

Oklahoma LLC Operating Agreement, Manager-Managed - Free Legal Form - Limited Liability Company (http://www.ilrg.com/forms/llc-opag-man/us/ok)

Big congrats to Mid and Bandnerd!

Congratulations from me, too, my friend (and his wife whom I've not met). Way to go!

Congrats Mid

Yah! Congrats to you!! And good luck with putting that officialness to good use!!

It's all work with you, isn't it, Mid? ;)

Congrats, my dear. Time to celebrate!

(not to mention, perhaps I deserve some congrats for putting up with him this whole time? Ha!!!!)

Sweetheart..... You put up with him and your a school teacher. You have my congratulations, my sympathy and my utmost respect. LOL

Congratulations Midtowner, you have my utmost respect as well anybody who as works hard you did to achieve their dreams is a hero in my book.

Few people realize that a little blood, sweat and tears and a lot of hard work will always payoff. Sitting around waiting for someone to fix your sitution just leads to a lot of sitting around waiting.

Congrats! As a fellow professional, I know how gruelling the road is to getting that doctorate! Fine work! And kuddos to bandnerd for being your support system.

Congrats! As a fellow professional, I know how gruelling the road is to getting that doctorate! Fine work! And kuddos to bandnerd for being your support system.

Thank you sir.

(and his wife whom I've not met).

We must remedy this.

Congratulations from me too. I don't know you but its always good to see OK's making something of themselves while IN OK.

Sorry, what are we congratulating him on?

Yes, to all those who want to make fun of me, I am clueless on this.

Major congrats, Mid, from someone who considers law one of his "paths not taken..."

Sorry, what are we congratulating him on?

Yes, to all those who want to make fun of me, I am clueless on this.

He passed the bar!

jbtulsa77,

Mid and a few other folks were sworn in as a licensed attorney this week.

Good job!

Bows in admiration and suspicion.. lol

Money makin time!

Congrats Mid

Thanks all!


Has anyone done an LLC's tax distribution so that the Manager had sole discretion over how the dividends were distributed (i.e., owning shares means nothing), but the tax liability for those distributions was allocated with the distributees (rather than by the members' pro rata shares)??

Every single form I have allocates both the profit distributions and the tax liability according to pro rata shares and I want nothing to do with that.

Profit and dividend allocation is completely up to the owners on how they want them distributed. The income passed down to the shareholders is simply taxed individually. Be careful with dividend distribution though because too much payout means a return of investment (not return on investment), and the tax situation can get murky.

Oh, and congratulations on passing the bar. See, I'm not that horrible (fingers crossed.)

Profit and dividend allocation is completely up to the owners on how they want them distributed. The income passed down to the shareholders is simply taxed individually. Be careful with dividend distribution though because too much payout means a return of investment (not return on investment), and the tax situation can get murky.

True enough, but the smart Manager is going to have an Operating Agreement which clearly states how those profits are going to be allocated and how the tax liability is going to be allocated. LLCs are taxed like partnerships meaning that absent some other agreement, tax liability, profits and losses are supposed to be paid out according to the members' pro rata shares. That's what you do in 99% of cases and that's why I'm having a devil of a time doing what I want to do.

Congrats on your achievement, however can we call you Hefner or just "Hef" now that you've moved to Lake Hefner area from MidTown?

"Hef"?

-- do like..