Prerequisite: Intro. To Federal Income Tax
This course will focus on the differing federal income tax treatments of the various forms of
business and investment activities. Following a review of the main characteristics of subchapter
C and S corporations, general partnerships, limited partnerships and limited liability companies,
the course will examine the income tax rules applicable to business entities (I) when being
organized; (ii) when operating and receiving profits or incurring losses; (iii) when making
distributions of profits, in cash, property, or entity ownership units; (iv) when terminating an
ownership interest and (v) when the entire enterprise terminates.