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.


Why Choose National University?

We’re proud to be a veteran-founded, San Diego-based nonprofit. Since 1971, our mission has been to provide accessible, achievable higher education to adult learners. Today, we educate students from across the U.S. and around the globe, with over 200,000 alumni worldwide.

Four-Week Courses

Focus on one subject at a time — one month at a time — and finish your degree faster.

75+ Degree Programs

Choose from associate, bachelor’s, and master’s degrees, plus credentials and certificates.

On Campus or Online

Study when and where it’s convenient for you with evening, weekend, and 100% online classes.

Year-Round Enrollment

Apply or transfer any time. Classes start monthly, and applications are accepted year round.

20+ Locations

Attend class and learn onsite at one of over 20 locations in California.

Military Friendly

As a Yellow Ribbon school, we offer tuition discounts to servicemembers and dependents.

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