Business Administration: Corporation Taxation

A survey of the tax consequences for C corporations and their shareholders of womb-to-tomb transactions, which might include formations, acquisitions, divisions, consolidations, and international operations as well as the reporting of book/tax differences. Prerequisites: BUS 3610; Business Administration major, Master of Accountancy student, Business Administration minor, or Accounting minor; minimum Senior standing.

BSAD majors, BSAD and ACCT minors and MAcc students; Minimum senior standing or graduate standing; Prerequisite: BUS 3610.

This course is designed to expand your knowledge of federal tax concepts and rules as they apply in a corporate context. In particular, the course discussions and materials will focus on the tax implications of various transactions for C corporations as well as for their shareholders. Tax accounting often relies on many detailed and changing rules. Nevertheless, by the end of this course, you should understand basic reporting (compliance) requirements and fundamental tax concepts well enough to identify and discuss issues about: - What effects a contribution has for a corporation and its shareholders, - How a corporation determines its taxable income, - How a corporation and its shareholders account for distributions, - What consequences arise from corporate acquisitions, - How multiple corporations report taxable income on a single tax return, and - How international business operations affect a corporation and its shareholders.

This course primarily focuses on the use of C corporations for conducting business operations. Accordingly, topics covered in this course will include taxable and nontaxable contributions (e.g., property and service contributions), determinations of income (e.g., book-tax adjustments), distributions (e.g., dividends, redemptions, and liquidations), acquisitions of stock and assets (e.g., stock sales and reorganizations), reporting of income for multiple corporations (e.g., consolidated returns), and implications of global operations (e.g., foreign tax credits). As part of the Global Theme, this course examines the US tax implications for US corporations exporting items to customers in foreign jurisdictions or operating in foreign jurisdictions through branches and subsidiaries. The course is delivered through a lecture format with in-class exercises.

Grades are determined from at-home assignments and projects.