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Understanding Taxation of Business Entities

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ISBN: 9780327194156
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Understanding Taxation of Business Entities is new to the LexisNexis Understanding Series. This book is designed primarily for use by law students taking a course on the taxation of business entities, or separate courses on partnership taxation and corporate taxation. The book is broken into parts on partnership taxation, C corporation taxation, and S corporation taxation. Each chapter contains a basic overview and a detailed analysis ; this allows for an understanding of the big picture before diving into the details, and the basic overview alone may be sufficient for some topics that may be covered lightly in a business entity taxation course. For each type of business tax entity, the book covers its life cycle — formation, operations, and liquidation — along with reorganizations and divisions for corporations. The book is replete with descriptions and analyses of the relevant Internal Revenue Code and Treasury Regulations provisions, summaries of leading cases and IRS rulings, and plenty of examples that apply the law to hypothetical situations. Understanding Taxation of Business Entities is designed primarily for law students, but it is also intended to be useful to practitioners, including generalists who need a relatively brief summary of a business entity tax topic, beginning lawyers who intend to specialize in partnership and corporate taxation and / or are working on an LL.M. in taxation, and experienced lawyers who wish to expand their practices into business entity taxation. The book similarly would be useful to accountants who are pursuing a master of science in taxation, as well as accountants practicing in the area of business entity taxation.

Table of Contents

Chapter 1 INTRODUCTION

PART I : PARTNERSHIPS

Chapter 2 DEFINING PARTNERSHIPS AND PARTNERS FOR TAX PURPOSES

Chapter 3 FORMATION OF THE PARTNERSHIP

Chapter 4 OUTSIDE BASIS AND ALLOCATION OF LIABILITIES

Chapter 5 OPERATION OF THE PARTNERSHIP : CALCULATION OF PARTNERSHIP TAXABLE INCOME

Chapter 6 OPERATION OF A PARTNERSHIP : ALLOCATION OF PARTNERSHIP INCOME AND LOSSES

Chapter 7 DISPOSITIONS OF PARTNERSHIP INTERESTS

Chapter 8 PARTNERSHIP DISTRIBUTIONS

Chapter 9 TRANSACTIONS BETWEEN PARTNER AND PARTNERSHIP ; ISSUANCE OF A PARTNERSHIP INTEREST FOR SERVICES

Chapter 10 BUSINESS COMBINATIONS : PARTNERSHIP MERGERS AND DIVISIONS

Chapter 11 ANTI - ABUSE PROVISIONS

Chapter 12 DEATH OF A PARTNER

PART II : C CORPORATIONS

Chapter 13 TAXING C CORPORATIONS IN GENERAL

Chapter 14 CORPORATE FORMATION

Chapter 15 DEBT / EQUITY CLASSIFICATION

Chapter 16 NONLIQUIDATING DISTRIBUTIONS

Chapter 17 STOCK REDEMPTIONS

Chapter 18 STOCK DIVIDENDS AND SECTION 306 STOCK

Chapter 19 COMPLETE LIQUIDATIONS AND TAXABLE ACQUISITIONS

Chapter 20 CORPORATE PENALTY TAXES

Chapter 21 CORPORATE REORGANIZATIONS

Chapter 22 CORPORATE DIVISIONS

Chapter 23 CORPORATE TAX ATTRIBUTES

PART III : S CORPORATIONS

Chapter 24 TAXATION OF S CORPORATIONS AND SHAREHOLDERS