Indirect Gifts on Formation of a Family Limited Partnership

Thumbnail Image
Date
2008-12-05
Authors
Harl, Neil
Major Professor
Advisor
Committee Member
Journal Title
Journal ISSN
Volume Title
Publisher
Authors
Research Projects
Organizational Units
Organizational Unit
Iowa State University Digital Repository
The Iowa State University Digital Repository is the open access institutional repository for the university to collect, manage, share, and preserve free, worldwide access to research and scholarship of Iowa State faculty, staff, and students. Material in the Digital Repository covers a wide range of disciplines from engineering to social sciences to arts and humanities.
Journal Issue
Is Version Of
Versions
Series
Department
Iowa State University Digital Repository
Abstract

Although family limited partnerships are basically a variant (in form more than substance) of the limited partnership,1 and are generally subject to taxation under the Subchapter K of the Internal Revenue Code as partnerships,2 family limited partnerships have acquired a reputation stemming from a perception of tax avoidance and tax sheltering as well as hurried and often careless planning and formation rather than a reputation as a business organizational structure driven by genuine business-related motives and careful planning. Accordingly, the level of scrutiny by the Internal Revenue Service has appeared to be elevated simply by their name and nature.

Comments
Description
Keywords
Citation
DOI
Source
Copyright
Collections