Dealing With Entity Classification Issues Harl, Neil
dc.contributor.department Iowa State University Digital Repository 2018-02-19T06:25:38.000 2020-06-29T22:57:11Z 2020-06-29T22:57:11Z 2017-12-18 2013-05-10
dc.description.abstract <p>The move by the Department of the Treasury in late 1996,<strong>1 </strong>effective January 1, 1997,<strong>2 </strong>to allow the choice of entity to be governed by a check-the-box system was greeted<strong> </strong>enthusiastically by most tax practitioners, many of whom had labored for years under<strong> </strong>the long-standing procedure that an unincorporated association would not be taxed as a<strong> </strong>corporation unless it had more corporate than non-corporate characteristics.<strong>3 </strong>Under the<strong> </strong>check-the-box system, a taxpayer could treat domestic unincorporated as partnerships<strong> </strong>or as associations (which includes corporations) on an elective basis.<strong>4 </strong>If no election is<strong> </strong>made, the default status is as a partnership (if the entity has two or more members) or as<strong> </strong>a disregarded entity separate from its owner if it has a single owner.<strong>5</strong></p>
dc.identifier archive/
dc.identifier.articleid 2178
dc.identifier.contextkey 11268444
dc.identifier.s3bucket isulib-bepress-aws-west
dc.identifier.submissionpath aglawdigest/vol24/iss10/1
dc.source.bitstream archive/|||Fri Jan 14 17:50:54 UTC 2022
dc.subject.disciplines Agricultural and Resource Economics
dc.subject.disciplines Agricultural Economics
dc.subject.disciplines Agriculture Law
dc.subject.disciplines Public Economics
dc.title Dealing With Entity Classification Issues
dc.type article
dc.type.genre article
dspace.entity.type Publication
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relation.isOrgUnitOfPublication d2bcee6c-7cba-4fa7-bd11-543354ce7b1b
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