acc455 | undergraduate

Corporate Taxation

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This course is a basic introduction to federal corporate taxation. The purpose is to familiarize the student with fundamental tax issues and provide the student with a general understanding of the history, laws, and policies of federal taxation.

This undergraduate-level course is 5 This course is available to take individually or To enroll, speak with an Enrollment Representative.

Course details:

Credits: 3
Continuing education units: XX
Professional development units: XX
Duration: 5

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    Tax Law Basics, Business Structures, and Formation of a Corporation

    • Describe the sources of tax law and the role of the IRS and courts in interpreting and shaping tax law.
    • Compare advantages and disadvantages of alternate forms of business.
    • Explain the process of applying check-the-box regulations in determining the business entity election.
    • Determine the tax consequences of forming a corporation.

    Basics of Flow-Through Entities (S Corporations and Partnerships)

    • Determine which items are separately stated and items included in ordinary income of an S corporation and partnership.
    • Calculate the owners’ distributive share and owners’ basis.
    • Compare the tax law requirements for the formations of an S corporation and partnership.

    Distributions and Termination of Interests in S Corporations and Partnerships

    • Distinguish between liquidating and nonliquidating distributions.
    • Explain the process of terminating an S election and the tax consequences of the termination.

    Corporate Tax Elections and Operations

    • Apply deductions unique to corporations to compute corporate taxable income.
    • Analyze the basic tax elections available to the corporation.
    • Identify tax preference items and adjustments in the context of the alternative minimum tax.

    Corporate Distributions

    • Distinguish between current and accumulated earnings and profits.
    • Calculate earnings and profits.
    • Determine the tax consequences of nonliquidating property distributions and stock dividends.
    • Determine the tax consequence of the redemption of stock.
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    While widely available, not all programs are available in all locations or in both online and on-campus formats. Please check with a University Enrollment Representative.

    Transferability of credit is at the discretion of the receiving institution. It is the student’s responsibility to confirm whether or not credits earned at University of Phoenix will be accepted by another institution of the student’s choice.