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Case Study: Cohen v. State, Div. of Taxation



This LawShelf case study examines the state taxing of S corporation distributions made to a state resident shareholder. The court focused on the accumulated adjustments account and how it should be calculated. It also looks at what happens when there is a conflict between federal and state tax law regarding these distributions. Because S corporations and other pass-through entities rely on the status of the company as not paying income tax in the corporate level, the question of whether everything can get passed through to the shareholders becomes critical. 

The case can be found here:

https://scholar.google.com/scholar_case?case=17519861927938556150&hl=en&as_sdt=6&as_vis=1&oi=scholarr