The Louisiana Business Owner's Protection Guide

If you own a Louisiana business with partners, one death in the ownership group can unravel what you built. This guide shows how key person coverage protects the company and a funded buy-sell keeps control with the surviving owners, plus the tax rules that keep the money tax-free.

• ✓Key person coverage. Protect the business against losing the person it runs on, tax-free (IRC 101).
• ✓Funding the buy-sell. Cross-purchase vs entity, and the transfer-for-value trap to avoid.
• ✓The 101(j) catch. The notice-and-consent step most owners miss that can tax a tax-free benefit.
• ✓A continuity self-audit. Seven checks that show where one death could still unravel things.

Written by Linh Tuong Nguyen

Licensed Louisiana Insurance Producer · License #1276760 · Monroe, LA