PrefaceTable of CasesTable of Internal Revenue Code SectionsTable of RegulationsTable of 1RS Notices, Revenue Procedures, and Revenue RulingsChapter 1. IntroductionA. Overview and History of the Corporate Income TaxB. Computation of C Corporation’s Taxable IncomeC. Corporate and Shareholder Tax RatesD. Alternative Minimum TaxE. Consolidated ReturnsF. Introduction to Choice of Entity ConsiderationsG. Policy Issues in Taxation of Corporations and ShareholdersH. What Is a Corporation?I. Identifying the Proper TaxpayerJ. A Roadmap for the Trip AheadChapter 2. Corporate FormationA. OverviewB. Requirements of Section 351(a)C. Transactions Denied Nonrecognition Under Section D. Boot in Section 351 TransactionsE. Basis Adjustments and Related Consequences of a Section 351 IncorporationF. Assumption of Liabilities by the CorporationG. Tax Problems upon Incorporation of an Existing BusinessH. Tax Treatment of Contributions to CapitalI. Tax Treatment of Corporation’s Organizational ExpendituresChapter 3. Planning the Corporate Capital StructureA. IntroductionB. Basic Components of Capital StructureC. Classification Issues: Stock or DebtD. Tax Treatment of a Corporation’s InvestorsE. Policy ConsiderationsChapter 4. Dividend DistributionsA. IntroductionB. The Statutory Pattern for Taxing DistributionsC. The Taxation of DividendsD. Earnings and ProfitsE. Qualified Dividends and the 20-Percent SolutionF. Distributions of PropertyG. Disguised and Constructive DividendsH. Corporate ShareholdersChapter 5. Redemptions of StockA. IntroductionB. Interest-Reducing RedemptionsC. Redemptions to Pay Death TaxesD. Effect of Redemptions on the Distributing CompanyE. Redemptions Through Related CorporationsF. Redemptions as an Acquisitive TechniqueG. Partial LiquidationsChapter 6. Stock DividendsA. IntroductionB. History of Taxation of Stock DividendsC. Nontaxable Stock DividendsD. Taxable Stock DividendsE. Impact of Stock Dividend on Distributing CorporationF. Section 306 StockG. Summary of Distributions by Continuing CorporationsChapter 7. The Corporation as a Tax-Avoidance DeviceA. IntroductionB. Personal Holding Company ProvisionsC. Unreasonable Accumulations of EarningsChapter 8. Sales and Liquidations of CorporationsA. IntroductionB. Simple Corporate LiquidationsC. Taxable Corporate AcquisitionsChapter 9. Introduction to Corporate ReorganizationsA. Historical BackgroundB. Types of ReorganizationsC. Tax Treatment of Reorganization ExchangesD. Judicially Developed Prerequisites to Reorganization Qualification Chapter 10. Acquisitive ReorganizationsA. OverviewB. Meeting the Requirements of the Basic Acquisitive ReorganizationDefinitionsC. Triangular ReorganizationsD. Multi-Step AcquisitionsE. Acquisitions Partly Tax-Free and Partly TaxableF. Treatment of Boot Paid Incident to ReorganizationG. Proposals for Reform of the Taxation of AcquisitionsChapter 11. Single Corporation ReorganizationsA. IntroductionB. The “E” ReorganizationC. The “F” ReorganizationD. Nondivisive “D” ReorganizationE. Liquidation-Reincorporation TransactionsChapter 12. Corporate DivisionsA. Introduction to Tax-Free Divisions Under Section 355B. Requirements to Prevent Bailout of Corporate EarningsC. Divisions Incident to “D” ReorganizationsD. Effects on Distributees and Distributing CorporationsE. Combining a Corporate Division with an AcquisitionF. Consequences of Failure of Corporate Division to Qualify Under Section 355G. Distribution of RightsH. Carryover of Corporate AttributesChapter 13. The Use of Tax Attributes of a Transferred CorporationA. OverviewB. Introduction to Section 381C. Earnings and ProfitsD. Net Operating Loss CarryoversChapter 14. Multiple CorporationsA. IntroductionB. Restrictions on Multiple AllowancesC. Reallocation of IncomeD. Consolidated ReturnsChapter 15. S Corporations and Their ShareholdersA. Introduction to Conduit TaxationB. Creation of an S CorporationC. Eligibility to Elect/Maintain ElectionD. Reporting of Net Income from OperationsE. DistributionsF. Dispositions of StockG. Complications to Corporation from Midstream ElectionsH. Termination of the S ElectionChapter 16. Introduction and Definition of PartnershipsA. IntroductionB. Defining a Partnership for Tax Purposes: Business EnterpriseClassificationC. Anti-Abuse Rules: 1RS Disregard of the Partnership FormD. Deduction for Qualified Business IncomeE. Choice of Entity ConsiderationsChapter 17. Partnership FormationA. IntroductionB. Contributions of CapitalC. Effect of Partnership Debt on Partners’ BasisD. Contribution of ServicesE. Organization and Syndication ExpensesChapter 18. Operation of the PartnershipA. Reporting and Taxing Partnership IncomeB. Partnership AllocationsC. Family PartnershipsChapter 19. Partner’s Basis and Other Limitations on Allocated LossesA. IntroductionB. Initial BasisC. Adjustments to BasisD. Timing and PrioritiesE. Limitations on the Deduction of LossesChapter 20. Characterizing Transactions Between Partners and the PartnershipA. IntroductionB. Payments for Services and the Use of PropertyC. Distinguishing Between Sales and Current DistributionsD. Limitations on Certain SalesChapter 21. Sale of a Partnership InterestA. IntroductionB. Treatment of the Seller—in GeneralC. Sales Subject to Section 751D. Other Entity Versus Aggregate IssuesE. Treatment of the Purchasing PartnerF. The Sale of an Interest: A Comprehensive IllustrationChapter 22. Current Distributions to PartnersA. IntroductionB. Partner-Level ConsequencesC. Partnership-Level ConsequencesD. Treatment of Pre contribution Gain or Loss on Certain In-KindPartnership Distributions: So-Called “Mixing Bowl” TransactionsE. Distributions of Marketable Securities (Section 731(c))F. Distributions That Alter a Partner’s Interest in Ordinary IncomePropertyChapter 23. Liquidating DistributionsA. IntroductionB. The Structure of Section 736C. Section 736(b) PaymentsD. Section 736(a) PaymentsE. Planning for Liquidations: Section 736(a) Versus Section 736(b)F. Relationship Between Sections 752 and 736G. Taxing Deferred Section 736 PaymentsH. The Comprehensive Illustration RevisitedI. Liquidations Distinguished from SalesJ. Abandoning Partnership InterestsChapter 24. Partnership TerminationsA. Voluntary Terminations of the BusinessB. Statutory TerminationsC. Partnership Mergers and DivisionsD. Conversions of Partnership InterestsChapter 25. Death of a PartnerA. IntroductionB. Effect on Current Year’s IncomeC. Basis AdjustmentsIndex