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LAWS 5403. Federal Taxation of Corporation and Partnerships. 3 Units.

The course will focus on the basic provisions of the federal income taxation of partnerships and corporations. The topics will include the formation of the entity, distributions to partners and shareholders, the allocation of profits and losses in a partnership, S corporations, redemptions, liquidations, mergers and acquisitions, corporate or partnership divisions, and certain corporate penalty taxes such as the accumulated earnings tax and the personal holding company tax.