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Law Courses Catalog

Income Tax II

An introduction to federal income taxation of business entities-corporations, partnerships, and limited liability companies (LLCs). Tax considerations relevant to choosing a form of business will be emphasized, as well as tax consequences of the formation of C corporations, S corporations, partnerships and LLCs. Some time also will be spent on taxation of the operation and sale of corporate, partnership, and LLC businesses.

The class will meet twice a week for an hour. The study materials will be selected sections of the Internal Revenue Code and Treasury regulations, a set of transaction-oriented problems, and a few readings handed out by the professor - no casebook.

Prerequisite: Income Taxation I