New book purchase includes complimentary digital access to the eBook. This convenient selection of federal taxation statutes and regulations is designed to provide up-to-date information, through March 2023, for students and professors alike. It includes edited provisions of the Internal Revenue Code (IRC), Treasury regulations, and various materials prepared by the Internal Revenue Service (IRS). A staple text in law schools, this informed volume is relied upon for its consistent format and extensive coverage. Detailed sections on the Internal Revenue title and Treasury regulations discuss income taxes, estate and gift taxes, employment taxes, miscellaneous excise taxes, procedure and administration, and the generation-skipping transfer tax. Detailed appendixes and a topical index are also included. The new volume contains all relevant statutory changes made since May 2022, including changes made by the Inflation Reduction Act of 2022 (Pub. L. 117-169), and the Consolidated Appropriations Act, 2023 (Pub. L. 117-328). IRS regulations are updated and the inflation-adjusted items for 2023 are included (Revenue Procedure 2022-38, Notice 2022-55, and Notice 2023-03).

This uniquely affordable volume contains all of the relevant Internal Revenue Code provisions and Treasury Regulations necessary for introductory classes in United States international taxation. It is specially geared for use in two or three-unit international taxation courses, and includes essential legislation and regulations affecting U.S. taxation of foreign entities and of domestic entities whose income derives from outside the United States. Lathrope's 2023 edition is notably shorter in length and a fraction of the price of the leading competition. The new volume contains: (1) legislative changes made in the Inflation Reduction Act of 2022 (P.L. 117-169), (2) the 2016 United States Model Income Tax Convention, and (3) the inflation-adjusted items for 2023 (Revenue Procedure 2022-38).

Offered as an alternative to the authors' widely used separate texts on corporate and partnership tax, the Seventh Edition of this comprehensive casebook continues its tradition of providing an integrated approach to teaching the "fundamentals" of a highly complex subject with clear and engaging explanatory text, skillfully drafted problems, selective discussion of tax policy issues, and a rich mix of original source materials to accompany the Code and regulations. This extensive revision discusses all major developments since the last edition, emphasizing significant provisions of the 2017 tax legislation known as the Tax Cuts and Jobs Act. Highlights of new material covered in the Seventh Edition are: The deduction under 199A for 20% of qualified business income from a pass-through entity. The discussion incorporates the final regulations and includes new problems. The impact on choice of entity of the 21% corporate income tax rate, lower individual rates, the 20% deduction for qualified business income, and other tax and business planning considerations. The new three-year long-term holding period required for capital gains allocable to service partners with carried interests in certain investment partnerships. A revised discussion of corporate capital structure to reflect the changed stakes resulting from the reduction of the corporate income tax rate and the new 163(j) limitation on the deduction of business interest. New limitations on the deduction of excess business losses. Other technical changes to Subchapters K and C and regulatory developments affecting partnership liabilities and corporate divisions. S corporation developments, including the requirement to pay reasonable compensation to shareholder-employees for purposes of the 199A qualified business income deduction.

This comprehensive and clearly written text is designed to help students recognize and understand the basic principles and issues covered in law school courses in corporate taxation at both the J.D. and LL.M. levels. It explains all the fundamental concepts and transactions affecting C and S corporations and their shareholders, and includes numerous illustrative examples, self-test questions with answers, and sample exam questions. The Ninth Edition incorporates all relevant provisions of the 2017 legislation known as the Tax Cuts and Jobs Act.