LAW-2402 Business Entity Taxation Topics
The Business Entity Course will focus on the U.S. Federal Income Tax aspects of certain business entities and related owners. Entities considered will include Corporations (taxed under Subchapter C of the Internal Revenue Code), Subchapter S Corporations (taxed under Subchapter S of the Internal Revenue Code) and Partnerships (taxed under Subchapter K of the Internal Revenue Code). The course will overview the tax considerations associated with the characterization of the entity as a corporation, disregarded entity or partnership; the creation and capitalization of such entities; the allocation of operating income and losses to related owners, where applicable; treatment of non-liquidating distributions to shareholders/ partners during the entities life; redemptions/ sales of owners interest in the entity; liquidating distributions; and the impact of liabilities on the entities and owners - potential gain recognition, tax basis etc. The course will consider the Statutory Framework, relevant Treasury Regulations and Case Law. Restricted to Students in the LLM Taxation Program - Summer Intensive
Prerequisite
LAW-2200