Credits: 3
A survey of the general concepts, rules, and practices involved in the taxation of sole-proprietorships, corporations, partnerships, and subchapter S corporations.
Prerequisites: ACC 401 with C- or better.
Subjects:
- Basic tax research
- Choice of Entity
- Corporate formation
- Tax accounting methods
- Operation of the corporate income tax
- Non-liquidating corporate distributions
- Corporate liquidations and distributions
- Alternative minimum tax
- Partnership formation and distributions
- S corporations
- Limited Liability Companies
- Ethical issues
- Optional topics: tax returns of different tax entities, consolidated tax issues, comparative international tax treatment of business entities