State Tax

State Taxation of S Corporations (Portfolio 1510)

  • This Portfolio analyzes the numerous complexities encountered by S corporations in the state tax arena.

Description

Since the S corporation’s hybrid nature often conflicts with the various state tax schemes it encounters in multi-state business operations, the Bloomberg Tax Portfolio,State Taxation of S Corporations begins with a discussion of the issues that arise during the corporation’s formation and the making of its S election.

With respect to the taxation of the corporation and its shareholders, this Portfolio provides a thorough analysis of the myriad state treatments of distributions, stock sales, redemptions, liquidations, reorganizations, and S election terminations.

This Portfolio also contains detailed explanations of the adjusted basis rules encountered by S corporation shareholders. Particular attention is paid to the states’ lack of conformity with the federal income tax system.

Table of Contents

1510.01. INTRODUCTION
1510.02. ACHIEVING S CORPORATION STATUS
1510.03. FORMATION OF, OR CONVERSION TO, AN S CORPORATION
1510.04. STATE INCOME TAXATION OF S CORPORATIONS
1510.05. TAXATION OF S CORPORATION SHAREHOLDERS
1510.06. SHAREHOLDER ADJUSTED BASIS
1510.07. TAXATION OF S CORPORATION DISTRIBUTIONS
1510.08. TAX CONSEQUENCES OF S CORPORATION STOCK SALES
1510.09. TAXATION OF S CORPORATION STOCK REDEMPTIONS
1510.10. TAXATION OF S CORPORATION LIQUIDATIONS
1510.11. TAXATION OF S CORPORATION REORGANIZATIONS
1510.12. EFFECT OF S ELECTION TERMINATION ON STATE INCOME TAXES
1510.13. TAXES OTHER THAN INCOME TAXES

maule-james-2015
James Maule
Professor of Law, Emeritus
Villanova University School of Law
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