“Under Article I, Section 5, each house of Congress can set its own rules of proceedings. The larger House, where membership reflects the population of each state, has set rules that limit how long members can speak and that reduce their opportunity to block legislation coming to a vote. The smaller Senate, where all states […]
Netflix’s 2020 release, The Trial of the Chicago 7 (written and directed by Aaron Sorkin), attempts to make a straightforward story out of a complicated trial, in which eight defendants are accused of conspiracy to provoke the riots at the 1968 Democratic Convention in Chicago. In some ways, Sorkin had incredible success, while in other ways, the compromises he made may have been too hasty.
Unlike most of the common business entities that exist today, the LLC has a fairly brief history in the United States. Entities such as partnerships, sole proprietorships and corporations have existed since the founding of the country. The LLC, however, has only existed in a recognizable form for roughly thirty-five years. What, then, led to the creation of this new entity? The single most important reason for the creation of the LLC was what has come to be known as “the tax-shield conundrum.”