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U.S. Taxation of Partnerships: Advanced Topics

U.S. Taxation of Partnerships: Advanced Topics

Author: Felix I. Lessambo
Publisher: Kluwer Law International
ISBN: 9789403533834
Published In: May 2021
Format: Hardback
Jurisdiction: U.S. ? Disclaimer:
Countri(es) stated herein are used as reference only

List Price: HKD 870.00

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Description
Contents

Details
About this book:

U.S. Taxation of Partnerships is a uniquely illustrative book that explores, analyzes, scrutinizes, and helps to resolve issues concerning accounting methods, anti-abuse rules, liabilities, dissolutions, mergers, and bankruptcy, with expert guidance on preparing partnership financial statements. With more than seven million businesses registered as partnerships in the United States—and increasing—it is incumbent for parties with business interests to keep abreast of the challenges about this sui generis form of business and its intricate body of tax law.

What’s in this book:

Furnishing boxed examples and references to significant court cases, the author extensively elucidates the following key issues:
- types of partnerships (LP, LLP, LLC, PTP);
- the two concepts of partnerships;
- partnership formation;
- transactions between partnership and partners;
- allocation of revenues among partners;
- the partnership taxable year;
- base erosion and anti-abuse tax (BEAT);
- centralized partnership audit regime;
- recourse and nonrecourse liabilities; and
- special tax rules for publicly traded partnerships (PTPs).
Vital abstract concepts are explained pragmatically. All formal requirements—filing the partnership tax return (Form 1065), reporting, preparing for an audit, and so on—are clearly illustrated with examples.

How this will help you:

As the pioneering book to describe the economics of partnerships comprehensively and concisely, this book offers a reliable and authoritative overview of the complexities of U.S. partnership taxation and dwells on the relevant rules in accessible language. It will be well appreciated by tax law practitioners, members of international and U.S. tax law associations, tax academics, and the international business communities with interests in the U.S.
List of Abbreviations

List of Figures

List of Tables

CHAPTER 1
Partnerships: A Business Organization Form

CHAPTER 2
Partnership Formation

CHAPTER 3
The Two Concepts of Partnership

CHAPTER 4
Partnership Taxable Year and Accounting Methods

CHAPTER 5
Partnership Anti-abuse Rules and the BEAT

CHAPTER 6
Transactions Between Partnership and Partners

CHAPTER 7
Partnership Allocations

CHAPTER 8
Partnership Liabilities

CHAPTER 9
Partnership Distribution

CHAPTER 10
Partnership Financial Statements

CHAPTER 11
Partnership Tax Reporting

CHAPTER 12
Partnership Liquidation and Termination

CHAPTER 13
Publicly Traded Partnership

CHAPTER 14
Partnerships Merger and Divisions

CHAPTER 15
Centralized Partnership Audit Regime

CHAPTER 16
Partnership Bankruptcy

Bibliography

Glossary

Table of Cases

Index