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Proposed Regulatory Change Of Treatment Of A Guaranteed Payment From A Partnership To A Partner, Douglas A. Kahn
Proposed Regulatory Change Of Treatment Of A Guaranteed Payment From A Partnership To A Partner, Douglas A. Kahn
Michigan Business & Entrepreneurial Law Review
A partnership pays no federal income tax. Instead, its income, deductions, and credits are allocated among its partners at the end of its taxable year. A partnership’s distribution of cash or property in kind to a partner will be characterized as one of three distinct transactions, each of which has its own tax consequences.