Understanding Taxation of Business Entities, from the Understanding Series, is now in its second edition. This book is designed primarily for use by law students taking a course on the taxation of business entities, or separate courses on partnership taxation and corporate taxation. It can be used as a supplemental text. But now it includes both a problem set and a teacher’s manual, so it can be used as the main text for any of the three courses.
The book is broken into parts on partnership taxation, C corporation taxation, and S corporation taxation. Each chapter contains a basic overview and a detailed discussion; this allows for an understanding of the big picture before diving into the details, and the basic overview alone may be sufficient for some introductory topics in taxation courses. For each type of business tax entity, the book covers its life cycle—formation, operations, and liquidation—along with reorganizations and divisions. The book is full of descriptions and analyses of the relevant Internal Revenue Code and Treasury Regulations provisions, summaries of leading cases and IRS rulings, and plenty of examples that apply the law to hypothetical situations.
Understanding Taxation of Business Entities is designed primarily for law students, but it is also intended to be useful to practitioners, including generalists who need a relatively brief summary of a business entity tax topic, beginning lawyers who intend to specialize in partnership and corporate taxation or are working on an LL.M. in taxation, and experienced lawyers who wish to expand their practices into business entity taxation. The book would be similarly useful to accountants who are pursuing a master of science in taxation, as well as accountants practicing in the area of business entity taxation.
If you are a professor teaching in this field you may request a complimentary copy.