Faithin Omaha eBook Collection

Download or read book Three Policy Decisions Animate Revision of Uniform Partnership Act written by Donald J. Weidner and published by . This book was released on 2016 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Uniform Partnership Act ("UPA") was approved by the National Conference of Commissioners on Uniform State Laws (the "Conference") in 1914 and the Uniform Limited Partnership Act ("ULPA") was approved in 1916. The ULPA was revised first in 1976 and again in 1985 ("RULPA"). After the ULPA had become RULPA, it was only a matter of time that the UPA would become RUPA. In 1984, Georgia enacted the UPA with many changes. In January of 1986, an American Bar Association subcommittee issued a detailed report that recommended extensive changes to the UPA, many of them along the lines of the recent Georgia changes. In the Fall of 1986, Congress enacted the Tax Reform Act of 1986. The 1986 Act made partnerships more attractive by setting corporate income tax rates higher than individual income tax rates while tightening up on the corporate income tax.