Ancillary agreements play a crucial role in acquisition transactions, complementing and supporting the primary acquisition agreement. Common ancillary agreements include employment agreements, non-competition...
Countering the financing of terrorism remains a top priority of the U.S. government. Financial institutions are obliged to identify terrorists and terrorist organizations included on sanctions lists and...
Power purchase agreements operate as the main source of guaranteed revenue for both traditional and renewable power generation facilities. Because power generation facilities are often financed with non...
Liquidating distributions are the distributions through which a partnership or limited liability company (LLC) terminates a partner's or a member's interest in the entity. Like current distributions...
The U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) recently issued a nationwide reporting rule effective December 1, 2025. This new rule mandates certain reporting requirements...
Learn more about the complex subject of partnership allocations made in partnership agreements. The IRC refers to these allocations as a partner's "distributive share." I.R.C. § 704(a), (b). Except for the basic flow-through nature of partnerships, the ability to allocate flexibly the items of income, gain, loss, deduction, or credit that pass through to the individual partners is perhaps the most desirable tax characteristic of the partnership and LLC entity forms.
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