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16 Prac. Tax Law. 3 (2001-2002)

handle is hein.ali/practax0016 and id is 1 raw text is: TPRACTICAL

FALL 2001

Published by The American Law Institute-American Bar Association Committee on Continting
Professional Education with the cooperation of the Section of Taxation, American Bar Association

Nine Practical Things You Should
Know About Partnership Taxation
Hak Dickenson                                  5
Tax practitioners who do not work daily with partner-
ship taxation but are likely to engage in business dis-
cussions about the use of partnerships should be famil-
iar with some of the fundamental aspects of
Subchapter K. A good start for a tax practitioner is to
know the nine practical things as set forth in this
The Taxation of E Commerce
Burke T. Ward and Janice C. Sipior            23
The obligation of remote vendors to collect and remit
state and local sales and use taxes is a difficult, but not
a new issue. The remote vendor has legitimate con-
cerns about excessive compliance costs if it is obligated
to collect and remit sales and use taxes from multiple
jurisdictions requiring different tax bases, rates, forms,
and procedures. The Internet Tax Freedom Act and
court decisions appear to temporarily prevent such
problems. But Congress will soon have to act. The
authors spell out the issues and identify particular
areas of concern for e-commerce vendors.
A Trust and Estate Planning Questionnaire
for Families with Minor Children
Paul A. Meints                                33
The questionnaire presented here is designed to be
sent to families with minor children who want an
estate plan. The questionnaire attempts to educate
young clients about what goes into a good, flexible,
and comprehensive estate plan. It will help you to
deal with younger clients in a way that minimizes
total legal costs and maximizes good long-term client

Practical Ways To Deal with
the Repeal of Section 415(e)
Louis T. Mazawey                              41
The SBJPA repealed longstanding section 415(e) limits
on the benefits that may be paid to an individual who
participates in both defined benefit and defined con-
tribution plans maintained by the same employer,
effective for limitation years beginning on or after
January 1, 2000. Employers that take full advantage of
the new IRS guidance should be able to cut iabilities
to executives under their nonqualified plans that
make up for benefits that are reduced because of the
combined limit-including for benefits payable in the
future to participants already in pay status (or
deferred status) as of January 1, 2000. Executives may
benefit from such changes through larger qualified
plan distributions that may be rolled over, and from
FICA tax savings because of lower nonqualified bene-
fits. Here is how it works.
The Impact of Sales and
Use Taxes on Corporate Transactions
Peter L. Faber                                47
Sales of busineases are excepted from the sales tax only
if the legislature thinks to do so and only if the legisla-
ture can draft appropriate concepts in appropriate lan-
guage. Provisions in sales tax statutes that deal with
corporate acquisitions are often illogical and inconsis-
tent. This article primarily surveys the treatment of
corporate transactions under the sales tax laws of
California, Georgia, Illinois, Maryland, Missouri, New
Jersey, New York, Oklahoma, Texas, and Vermont. It is
intended to illustrate the problems encountered and
offer some potential solutions.

1Ting Decisions
Programs, Publications,
and Playbacks

22      ALI-ABA and ABA Section
of Taxation CLE Calendars

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