Understanding Corporate Taxation - 5th Edition - Leandra Lederman

Understanding Corporate Taxation 5th Edition Leandra Lederman ISBN 9781531033095

Understanding Corporate Taxation is a clearly written treatise designed to make the complex field of corporate taxation accessible to students and practitioners alike. Using straightforward language, diagrams, charts, checklists, and numerous practical examples, the book facilitates comprehension and retention of key concepts. It also includes discussion of relevant cases, making it suitable either as a standalone text or as a supplement to any corporate tax casebook.

The fifth edition is fully updated to reflect the Inflation Reduction Act of 2022, including its excise tax on stock buybacks and the new Corporate Alternative Minimum Tax (CAMT). Additional diagrams have been added throughout the text to further enhance clarity.

The book begins with an introductory chapter addressing fundamental concepts, including:

• Choice of business form

• The principle of double taxation of corporate profits (taxed at both the corporate and shareholder levels)

• The Qualified Business Income (QBI) deduction

• Basics of anti-abuse rules, such as the step-transaction doctrine

These anti-abuse rules are explored in greater detail in a subsequent chapter, alongside discussions of proposals to partially or fully mitigate double taxation. The book also devotes a chapter to S corporations, explaining their single-tax structure and the application of the QBI deduction, with numerous illustrative examples.

Following the introductory material, the text adopts a cradle-to-grave approach, tracing the life cycle of a corporation from formation and capitalization to liquidation. Along the way, it covers key operational topics, including:

• Corporate capital structure

• Distributions of cash or property

• Stock redemptions and stock dividends

After addressing liquidation, the book delves into more advanced topics, such as:

• Taxable stock or asset acquisitions

• Non-taxable corporate reorganizations and divisions

• Carryover of tax attributes (e.g., net operating losses) in non-recognition transactions

• Treatment of corporate tax shelters

Throughout, clear diagrams, transaction charts, examples, and checklists distill complex rules into understandable and practical guidance. Understanding Corporate Taxation equips students and professionals with a structured, comprehensive framework for mastering corporate tax concepts and navigating real-world issues effectively.

Understanding Corporate Taxation 5th Edition Leandra Lederman ISBN 9781531033095, 978-1531033095 & 9781531033101

Authors:
Leandra Lederman
Emily Cauble