0 or 3 credits
Spring 2025 Lecture
This course is directed at students who wish to learn more about the taxation of business entities beyond the basic principles taught in MGMT 50400 Introductory Tax Accounting or an equivalent course. The course will cover broad topics such as tax law sources and tax research; the tax advantages and disadvantages of various business entities as well as how entrepreneurs may choose the optimal entity for tax purposes; taxable and nontaxable methods of mergers, acquisitions, and divestitures; fundamental concepts of consolidated tax returns for C Corporations; and the accounting for income taxes under ASC 740.
Learning Outcomes1Describe various tax planning procedures.
2Identify the tax law sources and assess the authoritative weight of each.
3Conduct basic tax research using RIA Checkpoint and communicate results.
4Understand the basic tax treatment of major operational events for sole proprietorships, partnerships, S Corporations, and C Corporations.
5Identify the optimal business entity for tax purposes.
6Understand the basic types of taxable acquisitions of C Corporations and tax planning ideas.
7Understand the basic types of nontaxable acquisitions of C Corporations and tax planning ideas.
8Understand the basic types of corporate divestitures and tax planning ideas.
9Understand fundamental concepts of consolidated tax returns for C Corporations.
10Calculate a corporation's income tax provision under ASC 740 and understand how to prepare the required financial statement disclosures.
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made by Purdue students.