ACCT 70641 - Taxation Corporations & Shareholders - Special Topics State Tax Issues

Institution:

University of Notre Dame

Subject:

Accountancy

Description:

The corporate form of operating a business continues as a popular entity choice in the United States for both tax and non-tax reasons. This course provides an in-depth study of federal income tax laws as they are applied to corporations and shareholders. Topics to be examined include: definition of a corporation for tax purposes; the problems of forming a corporation, including the design of the corporation's capital structure; computation of the corporate tax liability for individual corporations and controlled groups of corporations; taxation of S corporations; penalty surtaxes (i.e., the personal holding company tax and the accumulated earnings tax) applicable to corporations; payment of non-liquidating distributions to the corporation's shareholders; tax consequences of liquidating the corporate entity; corporate reorganizations and corporate consolidations. This course will also delve into the State and Local Income Taxation of Corporations (both C Corporations and S Corporations) from the standpoint of computation of state taxable income, nexus requirements when operating out of a corporation's 'home' state; apportionment of state taxable income to various states; unitary and consolidated issues; and state income taxation of certain Flow Through Entities (e.g., S Corporations).

Credits:

4.00

Credit Hours:

Prerequisites:

Corequisites:

Exclusions:

Level:

Instructional Type:

Lecture

Notes:

Additional Information:

Historical Version(s):

Institution Website:

www.nd.edu

Phone Number:

(574) 631-5000

Regional Accreditation:

North Central Association of Colleges and Schools

Calendar System:

Semester

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