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- Title
Tax Tip.
- Authors
Owen, Stephen L.
- Abstract
The article offers tips on taxation involving partnership distributions in the U.S. Partnerships and limited liability companies (LLC) give flexibility in taxation planning. The coverage of redemption agreement in partnership and LLCs is enumerated. Overview of the Internal Revenue Service ruling which cites the authority of the agency over limited partnerships are presented. The agency also cites that a transfer of partnership property in satisfaction of an obligation to make a guaranteed payment is treated as a sale of the property by the partnership.
- Subjects
UNITED States; LIMITED partnership; INTERNAL revenue law; TAXATION; BUSINESS partnerships; PRIVATE companies; UNITED States. Internal Revenue Service
- Publication
Journal of Passthrough Entities, 2007, Vol 10, Issue 4, p25
- ISSN
1099-7407
- Publication type
Article