The Limited Liability Company and the Search for a Bright Line Between Corporations and Partnerships

Authors

Richard A. Booth Marbury Research Professor of Law, University of Maryland School of LawFollow

Document Type

Article

Publication Date

1-1-1997

Keywords

limited liability company, pass-through taxation, entity level taxation

Abstract

Despite the potential loss in tax revenue, the Internal Revenue Service (IRS) is making it easier and easier to avoid corporate taxes. Witness the advent of limited liability companies and the proposed "check-the-box" regulations. This article takes a look at the real distinctions between -- and policy supporting -- pass-through and entity level taxation and draws the conclusion that entity level taxation will probably become limited to publicly traded entities only.

Publication Citation

32 Wake Forest Law Review 79 (1997).

Disciplines

Business Organizations Law

Digital Commons Citation

Booth, Richard A. Marbury Research Professor of Law, "The Limited Liability Company and the Search for a Bright Line Between Corporations and Partnerships" (1997). Faculty Scholarship. 100.
https://digitalcommons.law.umaryland.edu/fac_pubs/100