AC 412 - Taxation of Business Entities

(3.00 cr.)

Prerequisite: AC 202 , EC 102 , EC 103 , EC 220 . The study of business entity taxation. The first theme involves the structure of federal income taxation and investment taxation. The second theme involves types of business entities, accrual tax accounting, and the determination of business entity net income. The third theme involves the business deductions, including tax depreciation and tax consequences of asset dispositions. The fourth theme involves the taxation of business entities, including accounting for income taxes and the taxation of flow-through entities. The fifth theme involves the taxation of cash distributions from corporations and flow-through entities. The sixth theme deals with special business topics, including multijurisdictional taxation and acquisitive corporate reorganizations. Additional topics include a comparative analysis of the various forms of doing business and an introduction to tax research. (Fall only)