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The Federal Income Taxation of Corporations, Partnerships, Limited Liability Companies, and Their Owners

7th Edition
Jeffrey L. Kwall
ISBN: 9781636594651
CasebookPlus ISBN: 9798892095822
Subject: Tax-Corporate
Format: Print - Hardbound
Page Count: 920
Copyright: 2023 | Status: In Stock
Other Formats Available
CasebookPlus option available

An up-to-date response to the trend toward teaching corporate tax and partnership tax in a consolidated course, the 7th edition incorporates the Inflation Reduction Act of 2022 and updates, expands, and clarifies the prior edition. The 7th edition continues to use a unique mix of cases and rulings focusing on tax issues in a business planning context. The creative, student-friendly structure includes many examples and problems. The material can be taught in either an integrated manner or entity-by-entity. The 7th edition includes many examples and problems. The new edition is accompanied by a comprehensive teacher's manual with solutions to all problems and answers to all questions posed in the text.

Parts I-IV are designed for an intermediate three or four credit course on C Corporations, S Corporations, and partnerships. The material can be taught in either an integrated manner or entity-by-entity.

Parts V-VI are designed for an advanced, two or three credit course in asset and stock sales, corporate reorganizations, and spin-offs.

The casebook is also appropriate for a three or four credit intermediate corporate tax course by omitting the partnership chapters. The book is suitable for both the J.D. and LL.M levels.


Imprint: Foundation Press
Series: University Casebook Series
Publication Date: 10/19/2022
Related Subject(s): Tax-Partnership

Jeffrey L. Kwall, Loyola University-Chicago School of Law

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Selected Changes to the 7th Edition Include:

  • An explanation of the Inflation Reduction Act of 2022’s corporate alternative minimum tax.
  • An explanation of the Inflation Reduction Act of 2022’s corporate excise tax on certain redemptions.
  • An updated discussion of the limitation on the business interest deduction.
  • The addition of a recent case illustrating pitfalls of a closing-of-the-books election.
  • An updated discussion of the qualified business income deduction.
  • The addition of a Form 2553 to highlight effective date issues of an S election.
  • An augmented discussion of the relation of the Rickey case to IRC § 302(c)(2)(C).
  • A new illustration of the qualified small business stock exclusion.
  • A revision of material on the deductibility of partnership losses.
  • An updated discussion of bonus depreciation.

Learn more about this series.