Jim Nepple and I presented a half day seminar on LLC and S corporation tax issues on May 15, 2018. My part focused on what pass-through entities are, and how Illinois LLC operating agreements should be modified to define agency authority (e.g., who can sign contracts for the company) and manager rights, if the company has managers besides the members, as a result of the 2017 Illinois limited liability company act amendments. I also briefly mentioned the 20% federal gross income deduction for pass-through entities in the 2017 federal tax act, which is more completely described in Jim’s presentation. My slides are available at ISBA LLC and S Corps Talk May 15 2018