ACCT 237 Federal Taxation of Corporations, Partnerships, Estates, and Trusts
In this course, students will learn tax treatment of forming, operating, basis determination, distributions, transfers of interests, and termination of various business forms including C Corporations, S Corporations, and Partnerships. Determining Earnings and Profits (E&P) calculation for corporations is covered along with required disclosures for Schedule M-3. Multijurisdictional tax issues are discussed. Tax exempt organizations are covered, which include unrelated business income. Federal wealth transfer tax of gifts and estates are discussed along with income tax rules on estate and trusts. Emphasis is placed on tax research and alternative tax treatments that affect economic decisions. This course is one of two tax courses that prepares students for individual and business decisions relating to federal taxation and the Federal Tax Regulation Section of the Certified Public Accountant (CPA) Exam.
Hours Weekly
3 hours weekly