Partnership Tax

Catalog description

This course will examine the federal income taxation of and prepare students for the practical aspects of transactional tax work in the context of mergers and acquisitions, investment funds and joint ventures involving the partnership form. We will explore the basic tax rules applicable to partnership formation; the determination of partnership taxable income and its allocation among partners; partnership distributions; and the sale of partnership interests. Students will also learn to draft the tax provisions in partnership and limited liability company agreements. The content of this course will be useful not only to students interested in transactional tax work but also those who will pursue a more general corporate practice dealing with investment funds or joint ventures.