Taxation-Business

Course Description

An introduction to the theory and practice of federal income taxation of partnerships, subchapter S, and subchapter C corporations. Students learn the use of tax research publications.

Learning Outcomes

  • Contrast the tax ramifications of adopting a partnership versus a corporate form of business entity.
  • Describe and apply the rules pertaining to nonliquidating distributions to partners.
  • Explain the tax consequences that result from the sale or exchange of a partnership interest.
  • Compare and contrast the disposition of a partnership interest by gift, by death and by abandonment.
  • Apply the tax law with respect to the liquidation of a partnership.
  • Distinguish between a Subchapter ‘S’ and a Subchapter ‘C’ corporation, and summarize the differences in tax treatment.
  • Describe the tax consequences of incorporating a new or existing business.
  • Explain and apply tax regulations relating to property transfers to a controlled corporation.
  • Distinguish between nonliquidating distributions of a corporation, and distributions made in the complete liquidation of the corporation.

Prerequisites

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School of Business and Management

“Our business and management programs equip students with the knowledge and tools needed to lead their organizations and stay competitive in the job marketplace.”
School of Business and Management
Asya W.
Class of 2009