University of Illinois at Urbana-Champaign
Taxation of Business Entities I: Corporations
University of Illinois at Urbana-Champaign

Taxation of Business Entities I: Corporations

This course is part of U.S. Federal Taxation Specialization

Taught in English

Some content may not be translated

13,347 already enrolled

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Course

Gain insight into a topic and learn the fundamentals

4.7

(221 reviews)

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96%

Intermediate level
Some related experience required
24 hours (approximately)
Flexible schedule
Learn at your own pace
Progress towards a degree

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Assessments

53 quizzes

Course

Gain insight into a topic and learn the fundamentals

4.7

(221 reviews)

|

96%

Intermediate level
Some related experience required
24 hours (approximately)
Flexible schedule
Learn at your own pace
Progress towards a degree

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This course is part of the U.S. Federal Taxation Specialization
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There are 9 modules in this course

In this module, you will become familiar with the course, your instructor, your classmates, and our learning environment. This orientation will also help you obtain the technical skills required to navigate and be successful in this course.

What's included

3 videos5 readings1 quiz1 discussion prompt1 plugin

In this module, you will review the basics of tax law, which includes the origins of taxation, the three sources of tax law, the hierarchy of tax law, and judicial doctrines. Next, you will cover the fundamental features of the different organizational forms: sole proprietorship, partnership, corporation, and limited liability corporation. There will also be a discussion on strategic form choice. Finally, you will be introduced to entity classification for tax purposes.

What's included

13 videos2 readings4 quizzes1 discussion prompt

In this module, you will compare the tax formula for C corporations with the tax formula for individuals. Next, you will examine special tax deductions available only to corporations, such as the dividends received deduction, and the organizational expenditures deduction. You will learn how to calculate corporate income tax liability and compute the corporate Alternative Minimum Tax (AMT). This module will also discuss book-tax differences, and finally, it will discuss compliance procedures.

What's included

17 videos2 readings7 quizzes

In this module, you will review the taxation of property transactions. You will be introduced to the Sunchaser Shakery which is a firm that you will apply concepts to. Then, you will examine the nonrecognition provisions in property-for-stock transactions and consider possible exceptions and conditions.

What's included

27 videos2 readings6 quizzes

In this module, you will continue to explore property-for-stock transactions. Assumption of liabilities and transfer of services along with property will be introduced. Next, you will examine the effects of capital contributions on corporations, shareholders, and non-shareholders. You will also analyze the rules for debt and equity regarding capital structure. Finally, investor losses due to worthlessness of debt/equity investments and bad debts will be discussed.

What's included

26 videos2 readings7 quizzes

In this module, you will learn about corporate non-liquidating distributions. First, earnings and profits (E&P) will be discussed, and you will learn how to calculate E&P. Next, you will analyze the treatment of cash distributions followed by property distributions. You will then cover the treatment of stock distributions. Finally, treatment of constructive dividends and qualified dividends will be explored.

What's included

25 videos2 readings8 quizzes

In this module, you will explore redemptions and partial liquidations, which is when shareholders sell stock back to the issuing corporation in exchange for cash. You will learn about the five types of qualified redemptions, which are applied after you have considered stock attribution rules. Finally, you will analyze how these redemptions are treated by both the shareholders and the corporation.

What's included

23 videos2 readings6 quizzes

In this module, you will be introduced to corporate liquidations. Some basic information on liquidations will be given, followed by a discussion on corporate tax treatment of complete liquidations. Also, the tax effects on shareholders will be analyzed. Finally, you will examine the tax effects on both the parent and subsidiary in parent-subsidiary liquidations.

What's included

27 videos2 readings6 quizzes

In this module, you will explore corporate reorganizations. First, some background on the history of corporate restructuring will be given. Next, you will be introduced to the different types of tax-deferred reorganizations. Finally, you will learn analyze the tax consequences of these reorganizations.

What's included

16 videos4 readings8 quizzes1 discussion prompt1 plugin

Instructor

Instructor ratings
4.6 (62 ratings)
Michael P Donohoe, PhD, CPA
University of Illinois at Urbana-Champaign
2 Courses15,487 learners

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This course is part of the following degree programs offered by University of Illinois at Urbana-Champaign. If you are admitted and enroll, your coursework can count toward your degree learning and your progress can transfer with you.

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