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ACC621M Taxation of Bus & Oth Entities

Lead Faculty: Dr Joyce Ellis

Course Description

Study of the statutory provisions, judicial doctrines,and implementation of the theory and practice of federal income taxation of 'C' corporations, 'S' corporations, and partnerships.

Learning Outcomes

  • Evaluate the tax advantages and disadvantages of forming alternative forms of business entities
  • Assess the rules for determining a domestic Subchapter C corporation's taxable income, loss, and tax liabilities.
  • Evaluate the tax ramifications for the formation, disposition or exchange in partnership interest.
  • Judge applicable tax rules to use in liquidating a partnership.
  • Discriminate the rationals for filing a consolidated tax return.
  • Evaluate the tax consequences of liquidating distributions, non-liquidating distributions, tax levies, reorganization, acquisitions, divestitures, and the dissolution of the corporation.
  • Appraise the requirements for a Subchapter S election and the tax rules applicable to S corporations and their shareholders.
  • Evaluate the basis of an S corporation shareholder's interest.
  • Integrate ethical guidelines in analyzing tax strategies for business and other entities.