AC 221 - Taxation II

This course analyzes the federal tax system as applied to entities other than individuals. It examines the tax aspects of formation, reorganization, and liquidation of non-individual tax entities. It also covers advanced business taxation topics such as corporate taxation (including accounting for income taxes), partnership taxation, and multi-jurisdictional taxation. Additional topics include S-corporations, corporations focusing on income inclusions and exclusions, reporting expenses (including depreciation), accounting for inventory, and basic tax planning and research. Semester Credit Hours: 3.00 Contact Hours: 45/0/0/45 Prerequisite: AC 212 Taxation I. Corequisite: None.