New Tax Regulations Impact Many Partnership Transactions
Law360, New York (January 10, 2017, 3:17 PM EST) -- Jeffrey Goldman
The U.S. Treasury Department recently issued several new final, temporary and proposed regulations under code sections 704, 707 and 752 significantly affecting the taxation of many partnership transactions.
For purposes of this discussion, a partnership and its partners includes a limited liability company taxed as a partnership and its members. This article highlights several common situations impacted by the new regulations.
Computation of Partnership Tax Basis and Its Relevance
Several aspects of the new regulations affect the determination of a partner's tax basis in a partnership interest. Before getting into the details of the new...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!