Purchase Price Allocations: Tax and Contractual Aspects

Alan Kornstein and Daniela Gallagher are two of the co-authors of an article that dives into the use of purchase price allocations in contracts for the purchase and sale of business assets.  The article goes beyond the income tax consequences and explores alternative drafting approaches and the implications of a potential failed agreement.  The article appears in the current edition of The Tax Lawyer, a scholarly journal published by the Tax Section of the American Bar Association in collaboration with Northwestern University Pritzker School of Law.