Tax management multistate tax portfolios ; 1560-2nd.
" ... considers the state tax treatment of these hybrid entities that combine the liability protection of a corporation with the pass-through treatment associated with classification as a partnership. The first part of the portfolio explains the advantages and disadvantages related to choosing the limited liability company form over other forms of business entities such as general and limited partnerships, S corporations, and C corporations. The portfolio also discusses the federal tax classification of LLCs and LLPs, an important topic since many states base their treatment of the entity on its classification for federal tax purposes. This discussion walks the reader through each of the six corporate characteristics that determine whether a business entity is classified as an association or as a corporation, providing references to pertinent Private Letter Rulings throughout."
Published: Washington, D.C., 1995-2007.
Bibliography, etc. Note
Includes bibliographical references.
Formatted Contents Note
Detailed analysis. Introduction Federal tax classification of LLCs and LLPs Consequences of classification Unresolved LLC tax issues Self-employment taxes Unrelated business taxable income ("UBTI") Comparison of LLC acts Working papers.
Digital File Characteristics
Source of Description
Title from title screen (viewed Oct. 3, 2014).
Available in Other Form
Print version: Jelsma, Phillip L., 1958- State taxation of limited liability companies and partnerships. Arlington, VA : Tax Management Inc., -