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Partnerships Construction Contracts

Obligation to Perform Work and Incur Costs Under Construction Contract is a Section 752 Liability

by Miles & Stockbridge P.C. on

In a recently issued Private Letter Ruling (PLR 201608001), the IRS determined that a taxpayer-partnership’s obligation to perform work and incur costs under a long-term construction contract constituted a partnership...more

Code Section 752 Liabilities Include Obligations Under Construction Contract

by Charles (Chuck) Rubin on

Partners in a partnership receive adjusted basis in their partnership interests for their allocable share of partnership liabilities. Since basis will allow for distributions to be made to partners without gain, losses to be...more

Homebuilder Series Webinar: Joint Ventures Solutions, Steve Lear

This is the second in a series of in-depth webinar discussions that cover a range of legal and business issues affecting the homebuilder industry. Homebuilders frequently use joint ventures as a means to finance...more

The Expansive Breadth and Scope of Arizona’s New Revised Uniform Arbitration Act

by Snell & Wilmer on

Recently, the Arizona Court of Appeals determined that under the 2010 Arizona Revised Uniform Arbitration Act, A.R.S. §12-3001, et seq. (the AZ-RUAA), a contractual agreement to arbitrate extends to: (i) arbitration of claims...more

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