The\federal Income Taxation of Corporations, Partnerships, Limited Liabilitiy Companies, and Their Owners / Edition 3by Jeffrey L. Kwall
Pub. Date: 11/15/2004
Publisher: West Academic Publishing
Extending the 3rd edition's fully integrated coverage
Kept up to the minute, Kwall's book remains the leader in responding to the trend toward teaching corporate and partnership tax in a consolidated course. The 2007 Supplement fully integrates the American Jobs Creation Act of 2004 and the Tax Increase Prevention and Reconciliation Act of 2005. Highlights include:
Extending the 3rd edition's fully integrated coverage of the reduced tax rates on dividends and capital gains to 2010. Updating the section 351, 358 and 362 materials to reflect new mandatory step-down in basis of loss property when such property is contributed to a corporation. Updating the section 734, 743 and 754 materials to reflect the new mandatory step-down in partnership inside basis for certain sales of partnership interests and distributions of partnership property. Expanding the qualified subchapter S subsidiary discussion Adding the recently decided 5th Circuit's Garber Industries case to net operating loss limitation discussion Addressing the newly enacted anti-cash rich splitoff legislation
Professor Kwall's creative casebook responds to the trend toward teaching corporate tax and partnership tax in a consolidated course. A fresh perspective, the student-friendly approach includes a unique mix of cases with a focus on tax issues in a business planning context. Also includes many comprehensive examples and problems.
Parts I-IV are designed for an intermediate, three or four credit course addressing C Corporations, S Corporations and partnerships. Transactional topics are divided into separate chapters on C Corporations, S Corporations and partnerships. Material can be taught in an integrated manner or entity-by-entity.
Parts V-VI are designed for anadvanced, two or three credit course in asset and stock sales, corporate reorganizations and spin-offs. The casebook is also appropriate for a traditional, three or four credit intermediate corporate tax course by omitting the partnership chapters.
A 2007 update to the teacher's manual will bring Professor Kwall's comprehensive teacher's manual up to the minute in November.
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