Business Taxation

General

Prefix

ACCT

Course Number

451

Course Level

Undergraduate

Department/Unit(s)

Accounting

College/School

Herberger Business School

Description

Federal income taxation of business organizations including corporations and partnerships. Property transactions and other business topics.

Prerequisites

Credits

Min

3

Max

3

Repeatable

No

Goals and Diversity

MN Goal Course

No

Cultural Diversity

No

Learning Outcomes

Outcome

Identify and apply U. S. Federal Tax Law applied to C Corporations, S Corporations and Partnerships / LLCs: a) calculate section 1231 gain and loss; b) understand and calculate MACRS depreciation; c) recognize corporate formation and operation issues; d) identify and calculate corporate non-liquidating and liquidating distributions; e) identify and understand Partnership formation, operation and liquidation; f) identify and understand S Corporation formation, operation and distributions; and g) calculate deduction for Qualified Business Income.

Outcome

Prepare and evaluate U.S. Partnership and S Corporation income tax returns.

Outcome

Conduct tax research and prepare a memorandum evaluating tax issues and authorities.

Dependencies

Programs

ACCT451 is a completion requirement for: