Federal Income Taxation of Business Enterprises: Cases, Statutes, Rulings

This fourth edition covers the basics of the federal income taxation of partnerships and corporations including the taxation of LLCs, LLPs and S corporations. In addition, it alludes to a short list of other business enterprises. It is designed to be taught as two major components: partnerships and corporations. Both components use the traditional "cradle-to-grave" approach. Because of their practical importance, the book makes reference to Social Security taxes and estate taxes. There is no discussion of State income taxes. Although the book is comparatively short, the materials are thorough and are heavily supplemented with problems. The cases have been extensively edited, and most footnotes in the original cases have been eliminated without any explicit reference to the fact of their elimination, other than the words in this paragraph. Case and statute citations of the court and commentators, as well as footnotes, have been omitted without so specifying; numbered footnotes are from the original materials but do not retain the original numbering, except by accident. The book is rich with problems that are scattered along the way, rather than at the end of each chapter. They are not especially difficult and are designed to build confidence while at the same time forcing students to review the central Code provisions and pertinent regulations. RICHARD A. WESTIN is Professor of Law at the University of Kentucky, College of Law. He joined the College of Law faculty in 1998 as the Laramie L. Leatherman Distinguished Professor of Tax Law. He was a member of the faculty of the University of Houston College of Law from 1984 until 1998, where he taught in the areas of business and tax law. He holds B.A. and M.B.A. degrees from Columbia University and was graduated from the University of Pennsylvania Law School as a member of Order of the Coif. RICHARD C.E. BECK is Professor of Law at the New York Law School. An expert in federal individual income tax who has testified before the Oversight Subcommittee of the House Ways & Means Committee and the Senate Finance Committee on spousal liability for income taxes, Professor Beck teaches Individual Tax, Tax Policy, and International Tax. He has also taught Corporate & Partnership Tax. Professor Beck grew up in Chicago and earned a B.A. and Ph.D. in linguistics from the University of Chicago, where he also taught for a year. He then taught Indo-European linguistics and Sanskrit at Brown for seven years before turning to law. SERGIO PAREJA is Professor of Law at the University of New Mexico School of Law. He joined the UNM law faculty in 2005 after nearly nine years in private practice in Colorado and Indiana. Most recently, Pareja was a partner in the tax department at a large Denver law firm. While in private practice, Pareja specialized in Federal individual and corporate income tax planning, state and local tax matters, and estate and gift tax planning. He holds a B.A. degree from the University of California at Berkeley and a J.D. from Georgetown University Law Center.