Skip to main content
SpringerLink
Log in

§ 13 Eigen- und Fremdkapital im Steuer- und Gesellschaftsrecht der Vereinigten Staaten von Amerika

  • Chapter
  • First Online:
Eigenkapital und Fremdkapital

Part of the book series: MPI Studies in Tax Law and Public Finance ((MPISTUD,volume 3))

  • 8087 Accesses

Zusammenfassung

Die USA verfügen über einen der innovativsten Kapitalmärkte der Welt. Dies liegt vor allem daran, dass die Gesellschaftsstatute der einzelnen Bundesstaaten den Marktteilnehmern bei der zivilrechtlichen Ausgestaltung von Beteiligungen, Kreditfinanzierungen und hybriden Finanzinstrumenten große zivilrechtliche Freiheiten gewähren. Die hieraus resultierende Vielfalt an Finanzierungsformen stellt das US-Steuerrecht vor das Problem, allgemeine Kriterien für die steuerliche Abgrenzung von Eigen- und Fremdkapital zu entwickeln. Die US-Gerichte nehmen eine einzelfallorientierte Abgrenzung anhand eines komplexen Kriterienkatalogs vor, der ursprünglich zur Gesellschafter-Fremdfinanzierung von Kapitalgesellschaften entwickelt wurde, in modifizierter Form aber auch für die steuerliche Abgrenzung von Eigen- und Fremdkapital bei Personengesellschaften verwendet wird.

This is a preview of subscription content, log in via an institution to check access.

Access this chapter

Log in via an institution
Chapter
USD 29.95
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
eBook
USD 159.00
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
Hardcover Book
USD 179.99
Price excludes VAT (USA)
  • Durable hardcover edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Institutional subscriptions

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

Similar content being viewed by others

Literaturverzeichnis

  • Allen, William T./Kraakman, Reinier/Subramanian, Guhan, Commentaries and Cases on the Law of Business Organization, 3. Auflage, New York, NY 2009.

    Google Scholar 

  • Avery Jones, John F., et al., Whether the definition of dividend limited to the Dividend Article applies to the Double Taxation Relief Article granting underlying credit, Bulletin for International Taxation, 1999, Volume 53, S. 103 ff.

    Google Scholar 

  • Avery Jones, John F., et al., The Definitions of Dividends and Interest in the OECD Model: Something Lost in Translation?, World Tax Journal, 1999, Volume 1, S. 5 ff.

    Google Scholar 

  • Avi-Yonah, Reuven S., Memo to Congress: It’s Time to Repeal the U.S. Portfolio Interest Exemption, Tax Notes International, 1998, Volume 17, S. 1817 ff.

    Google Scholar 

  • Avi-Yonah, Reuven S./Tittle, Martin B., The New United States Model Income Tax Convention, 61 Bulletin for International Taxation, 2007, S. 224 ff.

    Google Scholar 

  • Bauman, Jeffrey D./Palmiter, Alan R./Partnoy, Frank, Corporations: law and policy, Materials and problems, 6. Auflage, St. Paul, MN 2007.

    Google Scholar 

  • Bebchuk, Lucian A., Federalism and the Corporation: The Desirable Limits on State Competition in Corporate Law, 105 Harvard Law Review, 1992, S. 1435 ff.

    Google Scholar 

  • Benshalom, Ilan, How to live with a Tax Code with which you disagree: Doctrine, Optimal Tax, Common Sense, and the Debt-Equity Distinction, North Carolina Law Review, 2010, Volume 88, S. 1217 ff.

    Google Scholar 

  • Berman, Daniel M./Strain, Denise O., Tax treatment of hybrid financial instruments in crossborder transactions: United States National Report, Cahiers de droit fiscal international, Volume 85a (2000), S. 665 ff.

    Google Scholar 

  • Bittker, Boris I./Eustice, James S., Federal Income Taxation of Corporations and Shareholders, Seventh Edition Valhalla, NY 2005.

    Google Scholar 

  • Bittker, Boris I./Lokken, Lawrence, Federal Taxation of Income, Estates, and Gifts, 3. Auflage, Valhalla, NY 1999.

    Google Scholar 

  • Black, Barbara, Corporate Dividends and Stock Repurchases, Loseblatt, St. Paul, MN 30. Dezember 2010.

    Google Scholar 

  • Brüggemann, Benedikt/Lühn, Michael/Siegel, Mikosch, Bilanzierung hybrider Finanzinstrumente nach HGB, IFRS und US-GAAP im Vergleich (Teil I), KoR 2004, S. 340 ff.

    Google Scholar 

  • Choper, Jesse H./Coffee, John C., Jr./Gilson, Ronald J., Cases and Materials on Corporations, 7. Auflage, New York, NY 2008.

    Google Scholar 

  • Conlon, Steve D./Aquilino, Vincent M., Principles of Financial Derivatives U.S. & International Taxation, Valhalla, NY 2008.

    Google Scholar 

  • Cox, James D./Hazen, Thomas Lee, The Law of Corporations, Bd. I – Kapitel 1–8, Bd. III – Kapitel 14–21, 3. Auflage, New York, NY 2010.

    Google Scholar 

  • Cummings, Jasper L. Jr., The Supreme Court’s Federal Tax Jurisprudence, Washington, D.C. 2010.

    Google Scholar 

  • DANTZLER, J. WILLIAM JR., Debt vs. Equity in the Partnership Context, 110 Tax Notes,2006, S. 497 ff.

    Google Scholar 

  • Debatin, Helmut/Wassermeyer, Franz (Hrsg.), Doppelbesteuerung, Loseblatt, München Mai 2009.

    Google Scholar 

  • Dravis, Bruce, Financing a Business, in: Brown, Robert L./Gutterman, Alan S. (Hrsg.), Emerging Companies Guide: A Resource for Professionals and Entrepreneurs, Chicago, IL 2005.

    Google Scholar 

  • Dreher, Nancy C./Feeney, Joan N., Bankruptcy Law Manual, 5. Auflage, St. Paul, MN Juni 2009 (zitiert: Bearbeiter, in: Dreher/Feeney, Bankruptcy Law Manual).

    Google Scholar 

  • Emmerich, Adam O., Hybrid Instruments and the Debt-Equity Distinction in Corporate Taxation, University of Chicago Law Review, 1985, Volume 52, S. 118 ff.

    Google Scholar 

  • Endres, Dieter/Jacob, Friedhelm/Gohr, Marion/Klein, Martin (Hrsg.), DBA Deutschland/ USA, Doppelbesteuerungsabkommen, München 2009.

    Google Scholar 

  • Ernst, Markus, Gesellschafter-Fremdfinanzierung im deutschen und U.S.-amerikanischen Steuerrecht, Berlin 2010.

    Google Scholar 

  • Faber, Michael S., Equity, Debt, NOT - The Tax Treatment of Non-Debt Open Transactions, Tax Lawyer, 2007, Volume 60, S. 635 ff.

    Google Scholar 

  • FASB, Distinguishing between Liability and Equity Instruments and Accounting for Instruments with Characteristics of Both, Diskussions-Memorandum, Norwalk, CT 1990.

    Google Scholar 

  • Ferguson, M. Carr, ABA Committee Comments on U.S.-Netherlands Tax Treaty, Tax Notes International (Nov. 5, 1993), 93 TNI 214-13.

    Google Scholar 

  • Fletcher, William Meade, Fletcher Cyclopedia of the Law of Corporations, Loseblatt, St. Paul, MN Juni 2011.

    Google Scholar 

  • Gray, Monte, Recharacterizing Debt to Equity – Not Just For Bankruptcy, The Advocate (Idaho), 2007, Volume 50, S. 22 ff.

    Google Scholar 

  • Halperin, Daniel I., Interest in Disguise: Taxing the “Time Value of Money”, Yale Law Journal, 1986, Volume 95, S. 506 ff.

    Google Scholar 

  • Hamilton, Robert W./Macey, Jonathan R., Cases and materials on corporations including partnerships and limited liability companies, 10. Auflage, St. Paul, MN 2007.

    Google Scholar 

  • Haskins, Matthew P., Can the IRS maintain the Debt-Equity Distinction in the Face of Structured Notes?, Harvard Journal on Legislation, 1995, Volume 32, S. 525 ff.

    Google Scholar 

  • Hazen,Thomas Lee/Markham, Jerry W., Corporations and other business enterprises, 2. Auflage, St. Paul, MN 2006.

    Google Scholar 

  • Huang, Peter H./Knoll, Michael S., Corporate Finance, Corporate Law and Finance Theory, Southern California Law Review, 2000, Volume 74, S. 175 ff.

    Google Scholar 

  • Isenbergh, Joseph, International Taxation, U.S. Taxation of Foreign Persons and Foreign Income, Loseblatt, New York, NY 2007.

    Google Scholar 

  • Justice, Randall K., The Duty of Corporate Directors to Pay Dividends, Kentucky Law Journal, 1998, Volume 87, S. 231 ff.

    Google Scholar 

  • King, Thomas E./Ortegren, Alan K., Accounting for Hybrid Securities: The Case of Adjustable Rate Convertible Notes, The Accounting Review, 1988, Volume 63, S. 522 ff.

    Google Scholar 

  • Klein, William A., The Convertible Bond: A Peculiar Package, University of Pennsylvania Law Review, 1975, Volume 123, S. 547 ff.

    Google Scholar 

  • Lemein, Gregg D./McDonald, John D., Cross-Border Hybrid Instruments, 79 Taxes, November 2001, S. 5 ff.

    Google Scholar 

  • Madison, Roger B., The Deductibility of “Interest” on Hybrid Securities, Tax Lawyer, 1986, Volume 39, S. 465 ff.

    Google Scholar 

  • McCullers, Levis D., An Alternative to APB Opinion No. 14, Journal of Accounting Research, 1971, Volume 9, S. 160 ff.

    Google Scholar 

  • Merkt, Hanno/Göthel, Stephan R., US-amerikanisches Gesellschaftsrecht, 2. Auflage, Frankfurt am Main 2006.

    Google Scholar 

  • Mitchell, Lawrence E., The Puzzling Paradox of Preferred Stock (And Why We Should Care About It), Business Lawyer, 1996, Volume 51, S. 443 ff.

    Google Scholar 

  • Moye, John E., The law of business organizations, 6. Auflage, Clifton Park, NY 2005.

    Google Scholar 

  • Nikolai, Loren A./Bazley, John D., Intermediate Accounting, 9. Auflage, Mason, OH 2003.

    Google Scholar 

  • Overman, Eric M., The U.S.-Netherlands Tax Treaty: Important Changes, Practitioners’ Response, And Primary Effects, Tax Lawyer, 1995, Volume 48, S. 207 ff.

    Google Scholar 

  • Peterson/Hawker, Does Corporate Law Matter? Legal Capital Restrictions on Stock Distributions, Akron Law Review,1997, Volume 31, S. 175 ff.

    Google Scholar 

  • Plumb, William T., The Federal Income Tax Significance of Corporate Debt: A Critical Analysis and a Proposal, Tax Law Review, 1971, Volume 26, S. 369 ff.

    Google Scholar 

  • Pratt, Katherine, The Debt-Equity Distinction in a Second-Best World, Vanderbilt Law Review,2000, Volume 53, S. 1055 ff.

    Google Scholar 

  • Romano, Roberta, The Genius of American Corporate Law, Washington, D.C. 1993. Scarborough, Robert H., Partnerships as an Alternative to Secured Loans, Tax Lawyer, 2004-2005, Volume 58, S. 509 ff.

    Google Scholar 

  • Schön, Wolfgang, The Odd Couple: A Common Future for Financial and Tax Accounting?, Tax Law Review, 2005, Volume 58, S. 111 ff.

    Google Scholar 

  • Shaviro, Daniel, Decoding the U.S. Corporate Tax, Washington, D.C. 2009.

    Google Scholar 

  • Strnad, Jeff, Taxing New Financial Products in a Second-Best World: Bifurcation and Integration, 50 Tax Law Review, 1995, S. 545 ff.

    Google Scholar 

  • Sullivan, Jason G., Debt-Equity Hybrid Instruments in a Cross-Border Setting: A Focus on the U.S. Foreign Tax Credit, Tax Notes International, 2009, Volume 53, S. 817 ff.

    Google Scholar 

  • Vogel, Klaus/Lehner, Moris (Hrsg.), Doppelbesteuerungsabkommen, Kommentar, 5. Auflage, München 2008 (zitiert: Bearbeiter, in: Vogel/Lehner (Hrsg.), DBA).

    Google Scholar 

  • Warren, Alvin C., US income taxation of new financial products, Journal of Public Economics, 2004, Volume 88, S. 899 ff.

    Google Scholar 

  • Ders., Financial Contract Innovation and Income Tax Policy, 107 Harvard Law Review, 1993, S. 460 ff.

    Google Scholar 

  • Weisbach, David A., Line drawing, doctrine, and efficiency in the tax law, Cornell Law Review, 1999, Volume 84, S. 1627 ff.

    Google Scholar 

  • Ders., Colloquium on Financial Instruments: Tax Responses to Financial Contract Innovation, Tax Law Review, 1995, Volume 50, S. 491 ff.

    Google Scholar 

  • West, Philip R., Foreign Law in U.S. International Taxation: The Search for Standards, Florida Tax Review, 1996, Volume 3, S. 147 ff.

    Google Scholar 

  • Willens, Robert, Unbundling Securities: Searching For A Coherent Policy, Tax Notes, 1991, Volume 53, S. 1513 ff.

    Google Scholar 

  • Williams, Jan R./Carcello, Joseph V./Neal, Terry L., GAAP Guide Level A, 2009 Edition, Chicago, IL 2008.

    Google Scholar 

  • Wilton, James M./Moeller-Sally, Stephen, Debt Recharacterization Under State Law, Business Lawyer, 2007, Volume 62, S. 1257 ff.

    Google Scholar 

  • Woywode, Uwe, Derivative Finanzinstrumente im Recht der Doppelbesteuerungsabkommen, Willingshausen 2004.

    Google Scholar 

Download references

Author information

Authors and Affiliations

  1. Auerfeldstr. 8, München, 81541, Deutschland

    Andreas Gerten

  2. Rechtsanwalt Associate P+P Pöllath + Partners Fünf Höfe, Kardinal-Faulhaber-Str. 10, München, 80333, Deutschland

    Dr. Maximilian Haag LL.M. (Duke)

  3. Am Illgarten 16, Achim, 28832, Deutschland

    Daniel Kornack

Authors
  1. Andreas Gerten
    View author publications

    You can also search for this author in PubMed Google Scholar

  2. Dr. Maximilian Haag LL.M. (Duke)
    View author publications

    You can also search for this author in PubMed Google Scholar

  3. Daniel Kornack
    View author publications

    You can also search for this author in PubMed Google Scholar

Corresponding author

Correspondence to Andreas Gerten .

Editor information

Editors and Affiliations

  1. for Tax Law and Public Finance, Business and Tax Law, Max Planck Institute, Marstallplatz 1, München, 80539, Germany

    Wolfgang Schön

Rights and permissions

Reprints and permissions

Copyright information

© 2013 Springer-Verlag Berlin Heidelberg

About this chapter

Cite this chapter

Gerten, A., Haag, M., Kornack, D. (2013). § 13 Eigen- und Fremdkapital im Steuer- und Gesellschaftsrecht der Vereinigten Staaten von Amerika. In: Schön, W. (eds) Eigenkapital und Fremdkapital. MPI Studies in Tax Law and Public Finance, vol 3. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-36332-0_13

Download citation

  • DOI: https://doi.org/10.1007/978-3-642-36332-0_13

  • Published:

  • Publisher Name: Springer, Berlin, Heidelberg

  • Print ISBN: 978-3-642-36331-3

  • Online ISBN: 978-3-642-36332-0

  • eBook Packages: Humanities, Social Science (German Language)

Publish with us

Policies and ethics

Search

Navigation