<p> EXHIBIT B</p><p>PRINCIPAL TYPES OF PARTNERSHIP TAX PROVISIONS POTENTIALLY NECESSARY IN DRAFTING THE OPERATING AGREEMENTS OF MULTI-MEMBER LLCs TAXABLE AS PARTNERSHIPS--OVERVIEW Preliminary note. Listed below are 22 types of partnership tax provisions potentially necessary in the operating agreements of multi-member LLCs taxable as partnerships. Where appropriate, the list below identifies the principal federal tax authorities relevant to these provisions. e 1. Tax distribution provisions. (No specific relevant federal tax authorities.) 2. Provisions allocating partnership nonrecourse deductions. Regs. § 1.704-2. 3. Provisions allocating partner nonrecourse deductions. Regs. § 1.704-1 4. Partnership minimum gain chargeback provisions. Regs. §§ 1.704-2(i)(4) and 1.704-2(j)(2)(ii). 5. Partner minimum gain chargeback provisions. Regs. §§ 1.704-2(i)(4) and 1.704-2(j)(2)(ii). 6. Provisions allocating gains and losses in respect of contributed property. IRC § 704(c)(1)(A); Regs § 1.704-3. 7. Revaluation provisions. Regs § 1.704-1(b)(2)(iv)(f). 8. Provisions to ensure that “special allocations” have “economic effect” under IRC § 704(b). IRC § 704(b) and Regs. § 1.704-1(b)(2)(ii). 9. Provisions for the proper maintenance of IRC § 704 book capital accounts. IRC § 704(b) and Regs. § 1.704-1(b)(2)(iv). 10. Provisions to ensure that special allocations have “substantial economic effect” under IRC § 704(b). IRC § 704(b) and Treas. Regs. 1.704-1(b)(2)(iii). 11. Provisions for profits interests. Rev. Proc. 93-27; Rev. Proc. 2001-43, 2001-2 C.B. 91 (expanding Rev. Proc. 93-27 to apply to grants of unvested profits interests). 12. Provisions concerning IRC § 754 “inside basis step-up” elections. IRC § 754. 13. Provisions for tax matters partners. IRC §§ 6221 through 6234; Regs § 1.301.6231(a)(7)-2. 14. Provisions dealing with taxable partnership distributions to the partners. “Disguised sales” under Section 707(a)(2)(B) (disguised sales); contributions and distributions of built-in gain or loss property distributed within seven years after contribution (IRC § 704(c)(1)(B) and Regs. § 1.704-4(e); partnership distributions to partners who have contributed property to it of property other than the contributed property within seven years after the contributing partner makes the contribution (IRC § 737); certain sales of partnership property to partners in exchange for installment notes (Reg. § 1.704- 3(a)(8)); disproportionate distributions by a partnership to a partner of unrealized receivables and inventory (IRC § 751(b)). 15. Provisions under Prop. Reg. § 1.1402(a)-2 to protect partnership partners from Self-Employment Taxes. Prop. Reg. § 1.1402(a)-2. 16. Family partnership provisions. IRC § 704(e). 17. Provisions designed to maximize estate and gift tax discounts. IRC Chapter 14 and related IRC provisions. 18. Investment partnership provisions. IRC § 721(b) 19. Provisions for “target allocations.” No specific federal tax authorities. 20. Exculpatory allocations. T.D. 8385, 56 Fed. Reg. 66978-66996 (December 27, 1991). 21. Provisions concerning partnership tax elections. IRC § 703(b).</p><p>D:\Docs\2018-05-09\030ce2726b0deb22b6d80ab291c06e19.doc</p>