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9781587782237

Fundamentals of Corporate Taxation

by ; ; ; ;
  • ISBN13:

    9781587782237

  • ISBN10:

    1587782235

  • Edition: 5th
  • Format: Hardcover
  • Copyright: 2002-07-01
  • Publisher: Foundation Pr
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List Price: $84.50

Table of Contents

Preface v
Table of Internal Revenue Code Sections
xxv
Table of Treasury Regulations
xlvii
Table of Revenue Rulings
liii
Table of Miscellaneous Rulings
lv
Table of Cases
lvii
Table of Authorities
lxiii
PART ONE Introduction 1(50)
An Overview of the Taxation of Corporations and Shareholders
1(50)
Introduction
1(11)
Taxation of Business Entitles
1(3)
Influential Policies
4(5)
The Common Law of Corporate Taxation
9(3)
The Corporation as a Separate Taxable Entity
12(25)
The Corporate Income Tax
12(4)
The Corporate Alternative Minimum Tax
16(3)
Multiple Corporations
19(1)
The S Corporation Alternative
19(2)
Corporate Tax Shelters
21(8)
The Integration Alternative
29(8)
Corporate Classification
37(6)
In General
37(2)
Corporations vs. Partnerships
39(3)
Corporations vs. Trusts
42(1)
Recognition of the Corporate Entity
43(8)
PART TWO Taxation of C Corporations 51(632)
Formation of a Corporation
51(61)
Introduction to Section 351
51(4)
Requirements for Nonrecognition of Gain or Loss Under Section 351
55(9)
``Control'' Immediately After the Exchange
55(5)
Transfers of ``Property'' and Services
60(1)
Solely for ``Stock''
61(3)
Treatment of Boot
64(9)
In General
64(5)
Timing of Section 351(b) Gain
69(4)
Assumption of Liabilities
73(18)
Incorporation of a Going Business
91(11)
Collateral Issues
102(10)
Contributions to Capital
102(6)
Intentional Avoidance of Section 351
108(2)
Organizational Expenses
110(2)
The Capital Structure of a Corporation
112(32)
Introduction
112(6)
Debt vs. Equity
118(11)
The Section 385 Saga
129(4)
Character of Loss on Corporate Investment
133(11)
Nonliquidating Distributions
144(43)
Dividends: In General
144(3)
Earnings and Profits
147(3)
Distributions of Cash
150(4)
Distributions of Property
154(7)
Consequences to the Distributing Corporation
154(4)
Consequences to the Shareholders
158(1)
Distributions of a Corporation's Own Obligations
159(2)
Constructive Distributions
161(5)
Anti--Avoidance Limitations on the Dividends Received Deduction
166(7)
In General
166(1)
Special Holding Period Requirements
167(1)
Extraordinary Dividends: Basis Reduction
167(3)
Debt--Financed Portfolio Stock
170(1)
Section 301(e)
171(2)
Use of Dividends in Bootstrap Sales
173(14)
Redemptions and Partial Liquidations
187(91)
Introduction
187(2)
Constructive Ownership of Stock
189(2)
Redemptions Tested at the Shareholder Level
191(35)
Substantially Disproportionate Redemptions
191(5)
Complete Termination of a Shareholder's Interest
196(17)
Redemptions Not Essentially Equivalent to a Dividend
213(13)
Redemptions Tested at the Corporate Level: Partial Liquidations
226(5)
Consequences to the Distributing Corporation
231(5)
Distributions of Appreciated Property in Redemption
231(1)
Effect on Earnings and Profits
232(1)
Stock Reacquisition Expenses
233(3)
Redemption Planning Techniques
236(26)
Bootstrap Sales
236(4)
Buy--Sell Agreements
240(14)
Charitable Contribution and Redemption
254(8)
Redemptions Through Related Corporations
262(13)
Redemptions to Pay Death Taxes
275(3)
Stock Dividends and Section 306 Stock
278(32)
Introduction
278(2)
Taxation of Stock Dividends Under Section 305
280(9)
Section 306 Stock
289(21)
The Preferred Stock Bailout
289(5)
The Operation of Section 306
294(16)
Complete Liquidations
310(32)
Introduction
310(1)
Complete Liquidations Under Section 331
311(18)
Consequences to the Shareholders
311(4)
Consequences to the Liquidating Corporation
315(14)
Liquidation of a Subsidiary
329(13)
Consequences to the Shareholders
329(8)
Consequences to the Liquidating Subsidiary
337(5)
Taxable Corporate Acquisitions
342(63)
Introduction
342(2)
Asset Acquisitions
344(6)
Tax Consequences to the Parties
344(1)
Allocation of Purchase Price
345(5)
Stock Acquisitions
350(13)
Background
350(4)
Operation of Section 338
354(6)
Acquisition of Stock of a Subsidiary
360(3)
Comparison of Acquisition Methods
363(3)
Tax Treatment of Acquisition Expenses
366(3)
Tax Policy Issues
369(36)
Rethinking General Utilities Repeal
369(14)
Corporate Acquisitions and the Problems of Excessive Debt
383(22)
Acquisitive Reorganizations
405(102)
Introduction
405(4)
Historical Background
405(1)
Overview of Reorganizations
406(3)
Types of Acquisitive Reorganizations
409(62)
Type A: Statutory Mergers and Consolidations
409(25)
Type B: Acquisitions of Stock Solely for Voting Stock
434(21)
Type C: Acquisitions of Assets for Voting Stock
455(3)
Triangular Reorganizations
458(3)
Multi--Step Acquisitions
461(10)
Treatment of the Parties to an Acquisitive Reorganization
471(22)
Consequences to Shareholders and Security Holders
471(14)
Consequences to the Target Corporation
485(3)
Consequences to the Acquiring Corporation
488(5)
Carryover of Tax Attributes
493(8)
Introduction
493(1)
Section 381 Carryover Rules
494(7)
Policy: An Elective Carryover Basis Regime
501(6)
Corporate Divisions
507(53)
Introduction
507(10)
Types of Corporate Divisions
507(2)
Non--Tax Motives for Corporate Divisions
509(2)
Historical Background of Section 355
511(3)
Overview of Section 355
514(3)
The Active Trade or Business Requirement
517(13)
Judicial and Statutory Limitations
530(9)
Business Purpose
530(2)
Continuity of Interest
532(1)
The ``Device'' Limitation
533(6)
Tax Treatment of the Parties to a Corporate Division
539(9)
Introduction
540(1)
Consequences to Shareholders and Security Holders
540(5)
Consequences to the Distributing and Controlled Corporations
545(2)
Consequences of Failed Divisions
547(1)
Use of Section 355 in Corporate Acquisitions
548(12)
Limitations on Use of Section 355 in Taxable Acquisitions
548(7)
Dispositions of Unwanted Assets in Conjunction With Tax--Free Reorganizations
555(5)
Nonacquisitive, Nondivisive Reorganizations
560(34)
Type E: Recapitalizations
560(12)
Introduction
560(1)
Types of Recapitalizations
561(11)
Type D: Liquidation---Reincorporation
572(11)
Type F: Mere Change in Identity, Form, or Place of Organization
583(4)
Type G: Insolvency Reorganizations
587(7)
Limitations on Carryovers of Corporate Attributes
594(21)
Introduction
594(1)
Limitations on Net Operating Loss Carryforwards: Section 382
595(13)
Introduction
595(2)
The Ownership Change Requirements
597(4)
Results of an Ownership Change
601(7)
Limitations on Other Tax Attributes: Section 383
608(1)
Other Loss Limitations
609(1)
Acquisitions Made to Evade Tax: Section 269
609(1)
Limitations on Use of Preacquisition Losses to Offset Built--In Gains: Section 384
610(3)
Consolidated Return Rules
613(2)
Affiliated Corporations
615(30)
Restrictions on Affiliated Corporations
615(18)
Introduction
615(1)
Limitation on Multiple Tax Benefits
615(12)
Section 482
627(6)
Consolidated Returns
633(12)
Introduction
634(1)
Eligibility and Election to File a Consolidated Return
634(2)
Computation of Consolidated Taxable Income
636(7)
Stock Basis Adjustments
643(1)
Advantages and Disadvantages of Filing a Consolidated Return
644(1)
Anti--Avoidance Provisions
645(38)
Introduction
645(1)
The Accumulated Earnings Tax
645(20)
Introduction
645(2)
The Proscribed Tax Avoidance Purpose
647(3)
The Reasonable Needs of the Business
650(12)
Calculation of Accumulated Taxable Income
662(3)
The Personal Holding Company Tax
665(14)
Introduction
665(1)
Definition of a Personal Holding Company
666(8)
Taxation of Personal Holding Companies
674(5)
Collapsible Corporations
679(4)
PART THREE Taxation of S Corporations 683(62)
S Corporations
683(62)
Introduction
683(2)
Eligibility for S Corporation Status
685(7)
Election, Revocation and Termination
692(5)
Treatment of the Shareholders
697(24)
Pass--Through of Income and Losses: Basic Rules
697(2)
Loss Limitations
699(8)
Sale of S Corporation Stock
707(1)
Special Problems: Discharge of Indebtedness
708(13)
Distributions to Shareholders
721(4)
Taxation of the S Corporation
725(6)
Coordination with Subchapter C
731(6)
Compensation Issues
737(3)
Tax Policy Issues: Subchapter K vs. Subchapter S
740(5)
Index 745

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