Taxation of Partnerships and Limited Liability Companies Taxed as Partnerships - Second Edition - J. Martin Burke cover
Carolina Academic Press Casebook Series

Taxation · Second Edition

Taxation of Partnerships and Limited Liability Companies Taxed as Partnerships - Second Edition - J. Martin Burke

by J. Martin Burke

ISBN
9781531035990
Publisher
Carolina Academic Press
Edition
Second Edition
Condition
$108.99 for the Spring 2027 semester · prepaid return label included

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Taxation of Partnerships and Limited Liability Companies Taxed as Partnerships Second Edition J. Martin Burke

ISBN: 9781531035990

The second edition of Taxation of Partnerships and Limited Liability Companies Taxed as Partnerships provides a comprehensive examination of partnership taxation, following the tax treatment of partners and LLC members from business formation through ongoing operations, transfers and dispositions of ownership interests, dissociations, and dissolution. Building on the first edition, it preserves the original organization and teaching approach, allowing instructors who have used the earlier edition to transition without having to substantially revise their course preparations.

Designed to make a complex subject accessible to both new and experienced professors, this edition incorporates updated tax law through the One Big Beautiful Bill Act, including discussion of Section 199A. It also introduces important refinements that deepen students’ understanding of Subchapter K. In particular, the book emphasizes how partnership taxation applies fundamental federal income tax principles, including property sales and exchanges, compensation for services, timing, nonrecognition, debt assumption and relief, basis, assignment of income, and the conversion of ordinary income and capital losses, to business activities conducted through noncorporate entities. Students will benefit most from this material after completing an introductory federal income tax course.

The book also seeks to bring greater coherence to the complexities of Subchapter K by explaining its underlying principles. It examines the central requirement that partners report their respective shares of income, gains, losses, deductions, and credits, alongside the rules designed to prevent unjustified tax avoidance. These concepts are further developed in a helpful Teacher’s Manual, which explains the rationale behind the various rules and helps instructors guide students through an area of tax law that can otherwise seem fragmented and difficult to understand.

Taxation of Partnerships and Limited Liability Companies Taxed as Partnerships 2026 Second Edition J. Martin Burke
ISBN: 9781531035990, 978-1531035990, 978-1-5310-3599-0, 978-1-53103-599-0

J. Martin Burke

Michael K. Friel

David A. Brennen

Darryll K. Jones

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