동업기업 과세제도의 부채 관련 규정의 개선방안 연구

As current partnerhip taxation in Korea does not have the liabilities provisions, it does not adjust each partner’s basis in proportionate to the change in liabilities of partnership. Consequnetly, “inside basis”, the assets value of partnership, becomes unequal to “outside basis”, stakes of partners, and, as a result, the change in basis can not be accurately analysed. Although such inequality results from focus on the simplification of partnership taxation, resulting conceptual incompleteness should be treated with the liabilities provision in the partnership taxation in the U.S. Therefore, as it does in the partnership taxation in the U.S., partnership taxation in Korea should apply the liabilities provisions through contribution, basis adjustment and distribution. That is, the increase in partners’ responsibilites for partnership’s liabilities should be regarded as contribution, while the decrease in them should be regarded as distribution. The concept of “liabilities” is to be defined based on the cash basis, and only the recourse liability, which takes the “economic risk of loss”, should affect partners’ stakes in partneship.