On Demand Audio

The Limited Liability Company and the Series LLC (Update)

(500 reviews)

Produced on November 21, 2017

Taught by
$ 89 Tax, Business, Corporate, & Securities, and Law Practice Management In Stock
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Course Information

Time 1h
Difficulty Beginner

Course Description

The Limited Liability Company (LLC) and the Series Limited Liability Company (SLLC) are two of the hottest concepts in business law today. Gone are the years when a business only had to choose between an S Corporation or Sole Proprietorship for a business form. These two dynamic forms of business are recognized by the IRS and are gaining momentum in many states today.  

In this program, join attorney and CPA Roman Basi to discuss these two types of entities. Here, he’ll address the differences between some of the states’ laws, as well as the differences in organization, liability protection, and taxation.

Learning Objectives:

  1. Grasp the historical and current significance of an LLC
  2. Distinguish between an LLC and a:
    • Sole Proprietorship
    • Partnership
    • C Corporation
  3. Define the Series LLC, including:
    • What it is
    • The liability protection it creates
    • The difference between Notice State and Non-Notice State
    • Taxation issues

Credit Information

After completing this course, Lawline will report your attendance information to {{ accredMasterState.state.name }}. Please ensure your license number is filled out in your profile to ensure timely reporting. For more information, see our {{ accredMasterState.state.name }} CLE Requirements page . After completing this course, {{ accredMasterState.state.name }} attorneys self-report their attendance and CLE compliance. For more information on how to report your CLE courses, see our {{ accredMasterState.state.name }} CLE Requirements FAQ .


Roman Basi

The Center for Financial, Legal & Tax Planning, Inc.

Roman Basi, raised in Southern Illinois, began his working career at a young age umpiring little league base-ball games. He spent his teenage and college years working for his father’s varied business interests. These experiences helped develop his future interest in helping small business owners fulfill their business and succession plans.

He graduated from Millikin University obtaining a Bachelor’s of Science Degree with a minor in Psychology. After receiving his degree, he continued his studies earning an MBA from Southern Illinois University with an emphasis in Accounting. He continued on to law school receiving his JD (law degree) from Southern Illinois University. He is a licensed attorney in Illinois, Missouri, Florida and Arizona. Roman is also admitted to the United States District Court for the Southern District of Illinois, the United States Court of Appeals for the 7th Circuit, and admitted to practice in the United States Supreme Court.

Roman is also a licensed Certified Public Accountant (CPA). Roman is also a licensed Managing Real Estate Broker in Illinois with Heartland Realty & Rentals, Inc., a licensed Real Estate Sales Associate in Florida, a licensed Title Insurance Agent with ATG Fund, Inc. and a licensed Private Pilot with an Instrument Rating.

Over the past several years, Roman has worked on many business transactions and has lectured to various regional and national audiences throughout the country, including extensive work in the continuing education field for Attorneys and CPA’s as well as providing the education necessary for the Voluntary Tax Return Preparer Registry with the IRS. From these venues he has personally met and worked with business owners through-out the United States. He is President of The Center for Financial, Legal & Tax Planning, Inc. (DBA Basi, Basi & Associates) and is in high demand by business owners for his expertise in financial, legal and tax matters.

Roman has been published in the following publications: The Illinois State Bar Association Section on Federal Taxation, Productivity, Agency Sales, Industrial Distribution, Supply House Times, Distributor Link and the I.D.A. Management Journal.

Roman enjoys working with his father and with their national clientele. He is responsible for many of the legal contracts produced by The Center for Financial, Legal & Tax Planning, Inc. His areas of expertise include mergers and acquisitions, contracts, real estate law, tax and estate planning.

Roman is very active in his local community and is a member of numerous associations, and Boards of Directors and has served on various committees. He currently serves on the International Business Brokers Association Education Committee. He participates in the Illinois Department of Transportation Adopt-A-Highway Program. Roman is also a current member of the Arizona, Florida, Illinois and Missouri Bar Associations, the American Institute of CPA’s (AICPA) as well as a past member of the National, Illinois, Florida, Sarasota and Egyptian Boards of Realtors. He has previously served as a member on the Illinois State Bar Association’s Federal Taxation Section Council Committee, Director for the Illinois Association of Realtors, Officer and two term President for the Egyptian Board of Realtors, Director for the Marion, Illinois Chamber of Commerce, and volunteer for the Women’s Center of Carbondale, Illinois.

Roman and Brandi, his wife of 20 years, have two children: Marissa (18) and Alexis (16). They reside in Marion, Illinois. He enjoys spending time with his wife, attending his daughters’ various activities, playing golf, flying a 1982 Piper Saratoga and is an avid St. Louis Cardinals’ and Tennessee Titans fan.


Carissa L.

Great course! I love this lecturer. This lecture was very organized, easy to follow, informative, covered many nuances in the law, and he gave practical advice about interacting with clients.

Roberto D.

This is the best CLE I have watched in a long time.

Tim L.

This was very good.

Twanna S.

Phenomenal presentation!


The best I have attended so far!!!

Patricia H.

Speaker is very smart

Michelle B.

It was pretty good.

Bonnie M.

Great speaker and materials were excellent for someone who is not an expert in this area but wants a good background. I'm going to look for more materials presented by the speaker.

Lynda S.

very informative

Linda C.

Great presentation.

Aimee C.

This was one of the best cle I have taken.

Jaclyn C.

informative `

Chris T.

good speaker

Harvey K.


William O.

Son of Bart. Excellent

Steven J D.

Great Guy!

Steven R.

great program!!!

Rick R.

Quick overview of topic- well done

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