Understanding Corporate Taxation / Edition 3

by Leandra Lederman, Michelle Kwon

Overview

This clearly written treatise is designed to make very accessible the complex subject of corporate taxation by using non-technical, straightforward language, charts, checklists, diagrams, and numerous examples to aid readers' understanding. The book starts with an introductory chapter that discusses the choice of business form; the general principle that corporate profits are subject to double taxation (once at the corporate level and again at the shareholder level); and the basics of anti-abuse rules, such as the step-transaction doctrine. Those anti-abuse rules are explored in more detail in a later chapter, as are proposals to partially or fully eliminate double taxation. The next several chapters are organized using a cradle-to-grave approach that traces the life cycle of a corporation, beginning with formation and capitalization and ending with corporate "death," liquidation. Between those events, the book discusses operational issues, including the capital structure of a corporation, distributions of cash or property, stock redemptions, and stock dividends. After corporate liquidations, the book explores more advanced topics, such as taxable stock or asset acquisitions; non-taxable corporate reorganizations and divisions; the carryover of tax attributes (such as net operating losses) following certain non-recognition transactions; and the treatment of corporate tax shelters. In addition, a chapter addresses the taxation of S corporations, which generally provides a single-tax paradigm. Understanding Corporate Taxation also includes discussion of relevant cases. It is designed to supplement any corporate tax casebook or to be used on its own.

Product Details

ISBN-13:	9781632833945
Publisher:	Carolina Academic Press
Publication date:	02/01/2016
Series:	Understanding Series
Edition description:	Third Edition
Pages:	480
Product dimensions:	6.50(w) x 9.50(h) x (d)

About the Author

Leandra Lederman is the William W. Oliver Professor of Tax Law at Indiana University Maurer School of Law.

Michelle Kwon is an Associate Professor of Law University of Tennessee College of Law.