Alphabet Soup: Tax Guidelines In Choice Of Entity Decisions
Pasquale Amodeo - Venable LLP
September 7, 2006
In 1997, the U.S. Treasury Department greatly simplified the rules associated with the tax treatment of non-corporate entities by issuing the “check-the-box” regulations. While the name of these regulations suggests a simple decision process, the actual decision of which type of entity to select for a particular business is actually fraught with highly technical and complex issues that can significantly impact a business. A comprehensive discussion of the tax issues involved in such a decision are well beyond the scope of this article; nevertheless, certain guideposts are discussed herein that will serve as valuable guidance for business owners.
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