Taxation of Business Entities

This course will cover the taxation of general partnerships, limited partnerships, limited liability companies, Subchapter S corporations and Subchapter C (i.e., ordinary) corporations. The course is intended for students who intend to practice business law. It will provide students with the tax knowledge they will need in order to counsel clients on: the type of entity to form when starting a new business or expanding an existing one; the daily operations of business entities; and the termination of business entities by liquidation or sale. This course is an extension of the Survey of Federal Tax course in which students will have studied personal taxation (i.e., taxation of income from employment), investments and the operation of sole proprietorships, but not the taxation of business entities. This course also may be thought of as the tax companion to the Business Associations course. Prerequisites: Survey of Federal Income Tax (340)and Business Associations (105) NOTE: Business Associations (105) may be taken concurrently. However, students who are taking Business Associations concurrently must contact the Registration Office at registrar@swlaw.edu or stop by W102 to register for this course.