The Senate Finance Committee holds a hearing today on Tax Reform: Examining the Taxation of Business Entities:

• Fred C. De Hosson (Partner, Baker & McKenzie, Amsterdam, The Netherlands)
• Harrison T. LeFrak (Vice Chairman, The LeFrak Organization, New York)
• Dana L. Trier (Adjunct Professor, University of Miami School of Law and Columbia Law School)
• Alvin C. Warren (Ropes & Gray Professor of Law, Harvard Law School)

In connection with the hearing, the Joint Committee on Taxation has released Selected Issues Relating to Choice of Business Entity (JCX-66-12):

This document … sets forth data, present Federal tax law, and history, and provides analysis of selected issues relating to taxpayers’ choices of business entities. The first part of this document provides data on passthrough entities and C corporations. The second describes present law relating to C corporations, passthrough entities, and certain other entities, as well as the current rate structure for individuals and C corporations and the rules relating to social insurance taxes. The second part also provides a chart comparing the features of S corporations and partnerships. The third part of this document provides historical background with respect to business entity classification issues generally, and with respect to certain legislative changes to the taxation of different entities since 1986. The fourth part of this document analyzes selected issues relating to choice of business entity.