Taxation of Business Entities II: Pass-Through Entities

About this course

This course provides an introduction to the U.S. federal income taxation of pass-through business entities, including Subchapter S corporations, partnerships, and limited liability companies. The course focuses on the relevant provisions of Subchapters S and K of the Internal Revenue Code, as well as related Treasury Regulations and judicial opinions, governing the formation, operation, and termination of pass-through entities. Practical in-class study problems facilitate self-discovery of technical tax knowledge along with the development of a variety of professional skills and attitudes.

What you will learn

• Determine the tax effects of forming a partnership, partnership distributions, and partnership terminations.
• Distinguish between the types of entities treated as partnerships for tax purposes.
• Apply partnership tax provisions to limited liability companies and limited liability partnerships.
• Identify corporations that qualify for the Subchapter S election.