New Regulations Disregard Partnership 'Bottom Guarantees'

, New York Law Journal


In their Taxation column, Ezra Dyckman and Daniel W. Stahl write that partners have long enjoyed the ability to influence a partnership's allocation of its liabilities by making a "bottom guarantee" of partnership debt, and conclude: "We have known that the end was coming for bottom guarantees since the issuance of proposed regulations by the Treasury Department in 2014. That expectation has now become a reality, as temporary regulations regarding bottom guarantees were issued earlier this month."

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