An underlying issue which inheres in any taxation framework relates to the manner in which it operates and the actual distribution of its imposts or appropriations. In this respect, a tax system needs to confront two fundamental (and interrelated) questions – first, precisely how the tax or impost should be imposed and, secondly, who should bear the legal obligation or onus of payment. These issues can be conceptualised not only from a purely legal or positivist perspective, in terms of identifying who will incur the obligation to pay tax, but also in terms of a more economic and instrumental standpoint as to which entity or individual should effectively be paying the tax. These alternatives may not result in the same conclusions, particularly for the taxation of business forms. To provide one example, if the business form has separate legal entity status from its members, should the business form, as a legal person, be subject to tax separately from its members? From a legal standpoint the response to this question is that such a business form should bear the impost. However, from an economical perspective it may be preferable that the business income and/or losses are directly allocated to its members. Indeed, tax transparency (aggregate approach) has been argued as an economically superior model, although it is not without its critics...

The thesis is focused on a member's ownership interest in a limited liability company. First part of the thesis is providing basic information about institutes of limited liability company such as creation and incorporation and statutory body. The main aim of the thesis offers the view on the member's ownership interest in a limited liability company and the possible disposal. At the end are mentioned the contemporary trends relevant to limited liability company.

This diploma thesis describes the legal position of partners in a limited liability company, through the analysis of theirs rights and duties. For a complete view of main theme the part of this thesis is devoted to the basic characteristics of a limited liability company. The diploma thesis also reflects the changes in the Czech legal order and the impacts of these changes on the concept of limited liability companies and the rights and duties of theirs partners.

Zugl.: Köln, Univ., Diss., 2008

Zugl.: Köln, Universiẗat, Diss., 2008.

Thesis (Ph. D.)--University of Texas at Austin, 2004. / Supervisors: Maxwell Stinchcombe and R. Preston McAfee. Vita. Includes bibliographical references.

The aim of this treatise is to provide an analysis of the tax implications of making use of limited real rights in tax planning. In order to understand the tax implications of making use of limited real rights it is necessary to understand the nature and legal form of these rights. The importance of this understanding lies in the determination of the tax legislation applicable to the right in question, and the subsequent tax implications. The next step in working through an analysis of the tax implications of making use of limited real rights is therefore to define the scope of applicable legislation. This required an analysis of the scoping provisions of our tax legislation. Once the scope of applicable legislation had been defined, it was then possible to move onto an analysis of the application of the legislation identified to the various “stages” of limited real rights. The conclusion from this analysis is that the tax implications of making use of limited real rights are spread fairly broadly across several different pieces of legislation, and need to be carefully and fully considered when making a decision to make use of limited real rights in a tax planning strategy. The conclusion on the analysis of certain selected tax planning strategies that make use of limited real rights is that it is possible to make fairly substantial cash flow savings when deciding to implement a particular strategy which makes use of limited real rights. But, that use of these strategies is not without risk. For example, SARS may examine a particular strategy in terms of the “new” GAAR. The financial implications of the successful application of the GAAR may be disastrous to the taxpayer, and the tax planner will need to have considered and advised on the possibility of such a challenge from SARS. In addition, in some of the strategies, there are risks associated with the anticipated life expectancy of parties to the tax plan being shorter than anticipated. The conclusion is that the use of limited real rights in tax planning can be effective and provide savings, but that the use of such a strategy requires, inter alia, a very careful consideration of the interaction and application of our tax legislation to the strategy.

In this thesis the author deals with the comparision of american alternative business entities according to the law of the state Delaware with the czech "personal business societies". In the body of the thesis there are described the following 3 types of business entities: general partnership, limited partnership and limited liability limited partnership, including the description of its formation and dissolution, the rights, powers, duties and liabilities of the partners. After each section there are compared to the czech Commercial code (Seccions veřejná obchodní společnost and komanditní společnost).

We study the impacts of bankruptcy risk on the performance of market-based pollution control policies. In chapter one, we concentrate on emissions trading markets. We find that firms that risk bankruptcy demand more permits than if they were financially secure. Thus, bankruptcy risk in a competitive market for tradable permits causes an inefficient distribution of these permits among firms. Moreover, the equilibrium distribution of permits is dependent on the initial allocation of permits. Thus, the main reasons for implementing emissions trading markets do not hold when some firms are financially insecure. In fact, the inefficiency that is associated with bankruptcy risk is worsened if financially insecure firms are given a smaller share of the initial allocation of permits. In chapter two, we investigate the influences of bankruptcy risk on imperfectly enforced emissions taxes. Under favorable, but not unrealistic conditions, an imperfectly enforced emissions tax produces an efficient allocation of individual emissions control; the aggregate level of control is the same whether enforcement of a tax is sufficient to induce the full compliance of firms or not, and differences in individual violations are independent of firm-level differences. All of these desirable characteristics disappear when some firms under an emissions tax risk bankruptcy—the allocation of emissions control is inefficient, imperfect enforcement causes higher aggregate emissions, and financially insecure firms choose higher violations.

Summary: The reason for choosing the topic of my thesis was primarily the popularity of a Limited Liability Company as a form of a corporation suitable especially for small and medium-sized undertakings and practical usability of the knowledge about this issue. During their life businessmen and other legal persons encounter the form of Limited Liability Company almost daily and they participate very often in its business with a prospect of profit. This is why the knowledge about the rights and duties as of a member of the Limited Liability Company is very important and helpful. The main object of this thesis is to focus on a broader description of members' legal position concerning their membership in the Limited Liability Company. Even though each right and duty is described in a separate chapter they need to be understood in their mutual coherence as a complex. My research begins with a general characteristic of a business corporation as a product of commercial law and a general description of the nature and specifics of the Limited Liability Company within the Czech legal order. The merit of this thesis is to analyze each right and duty of the member in detail. These are further divided into proprietary and non-proprietary rights and duties. Nevertheless, such a distinction cannot be always strict....