The course examines the taxation of corporations and their shareholders. Basic concepts of taxable income from the Federal Income Tax course are assumed to be already known by enrolled students, including basis, determination of gain and loss, capital gains and losses, and the treatment of nonrecognition transactions. Representative topics covered include entity classification as well as the tax treatment of the formation of a corporation, distributions to shareholders (including stock redemptions and partial liquidations), complete liquidations of corporations, taxable asset and stock acquisitions of corporations, and corporate reorganizations. Prereq: Law 293Q, 393Q, or 493Q (Federal Income Taxation).
Peroni, Robert J.