Stephen R. Looney has been elected to serve as a member of the Board of Trustees of the Southern Federal Tax Institute (SFTI). He is replacing Charles H. Egerton on the Board of Trustees beginning this year. Mr. Looney’s term will run until the age of 67 years old or until such time he retires from the practice of law.
Now in its 47th year, SFTI is widely regarded as the organization that hosts the preeminent conference for tax professionals throughout the Southeast. Mr. Looney has been a featured speaker at the conference for the past four years. Last fall, he offered a presentation entitled, “Advising the Professional Service Firm”. His topic covered the range of income tax issues that commonly arise in the context of professional service firms, that were historically organized as professional C Corporations, but more frequently take the form of a S Corporation LLC. His presentation focused on issues that should be considered in the operation and conversion of these entities.