Fundamentals of Corporate Taxation, Tenth Edition by Stephen Schwarz offers a comprehensive and engaging exploration of the foundational principles of corporate taxation. This seminal casebook, part of the University Casebook Series, is renowned for its clear explanatory text, meticulously crafted problems, and extensive inclusion of original source materials to complement the Code and regulations. The Tenth Edition has been significantly revised to incorporate all major developments since its predecessor, with a particular focus on the transformative provisions of the 2017 Tax Cuts and Jobs Act. Key updates include detailed analysis of how the 21% corporate income tax rate, reduced individual rates, the 20% qualified business income deduction, and other tax and business planning shifts impact entity choice. The book also revises its examination of corporate capital structure in light of the lowered corporate tax rate and the new § 163(j) interest deduction limitation. Furthermore, it delves into crucial developments impacting corporate divisions under § 355, addressing the IRS’s revised ruling policy and proposed regulations concerning divisions with substantial cash or nonbusiness assets. The edition further updates discussions on other technical changes within Subchapter C, including revised definitions of contributions to capital, modifications to the dividends received deduction, changes to the net operating loss deduction, updated safe harbor methods for measuring continuity of proprietary interest, and the diminished significance of limitations on multiple tax benefits for affiliated corporations.

Author: Stephen Schwarz

Edition: 10th

Publisher: Foundation Press

ISBN-10: 1642428787

ISBN-13: 978-1642428780

Publication Date: October 23, 2019