Business Entities | L4185

The course provides an overview of the differences in in the operation of a trade or a business as an LLC/LLP, an S-Corporation and a C-Corporation. The class offers an overview of the state law requirements for the operation of each type of business (Model Business act and LLC/LLP state statutes) and the difference in the tax treatment for each type of business. The objective is to give students a basic understanding of some of the do’s and don’ts for each business and how they might advise a client as to the preferred business form in typical factual situations. The class explores both the legal and tax effects during the life cycle of any business, including formation, operation, distribution, redemption, sale of an interest, liquidation, mergers and divisions, and the death of the owner.

Prerequisites: L4100 Basic Tax Recommended
Credit Hours: 4
ULW: This course does not satisfy the Upper Level Writing requirement (ULW)

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