Taxation of Business Enterprises

This course will examine the tax treatment of the entity and the owners of a “C” corporation, an “S” corporation, a partnership, and a limited liability company. The course will be useful as an introduction to business taxation to students who are interested in a practice involving tax planning and those interested in a general business practice. Taking an entity life-cycle approach, students will learn the tax consequences of organizing, operating, and liquidating these entities. Students will also consider contributions and distributions of money and property, contributions of services, the treatment of losses and the effect of entity-level debt, allocations of tax items among the owners, and sales of ownership interests. Students will learn the practical application of the issues studied through some basic drafting assignments. [Prerequisite: Taxation: Federal Income Taxation]
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