In this “Expert Insight,” well-known tax attorney and BNA Multistate Tax Advisory Board member Bruce Ely answers our questions about the emergence of Series LLCs and their state tax treatment. As a member of a task force working on a comprehensive report to the U.S. Treasury Department and the ABA Tax Section, Ely is uniquely situated to offer insight on this topic, but he cautions that his responses below are purely his own personal views.