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Full-Text Articles in Law
Partnership Sales: When Nonrecourse Debt Exceeds Fair Market Value, Commissioner V. Tufts, Joseph Perkovich
Partnership Sales: When Nonrecourse Debt Exceeds Fair Market Value, Commissioner V. Tufts, Joseph Perkovich
Akron Law Review
The United States Supreme Court has used its decision in Commissioner v. Tufts to settle a conflict between circuits and to fine tune an ambiguity which it created thirty-six years ago in Crane v. Commissioner. The circumstances focus on a taxpayer who sells his partnership interest by having the purchaser assume nonrecourse debt to which the partnership property is subject.
Competing With Delaware: Recent Amendments To Ohio's Corporate Statutes, David Porter
Competing With Delaware: Recent Amendments To Ohio's Corporate Statutes, David Porter
Akron Law Review
House Bill 301 is evolutionary, not revolutionary, in its content, but its changes are nonetheless significant for Ohio corporations and their lawyers. To place these changes in context, this article summarizes corporate statutory developments since 1997 that highlight Ohio’s previous initiatives to keep up with Delaware, America’s dominant state of incorporation, and then discusses at greater length the recent amendments contained in House Bill 301, concluding with a look ahead at some additional changes that may occur as early as this year.