AC310 Business Taxation (3 cr.)

Prerequisite(s): AC308  
This course provides an introduction to corporate federal income tax law. Tax provisions and administrative rules pertaining to corporations and alternative organizational structures are examined.

Upon completion of this course, students are expected to be able to do the following:

1. Interpret and evaluate the tax code as it applies to taxpayer situations.
2. Explain the advantages and disadvantages of the taxation of different entities.
3. Assess tax and nontax costs of various organizational forms.
4. Prepare tax returns for partnerships, C corporations, and S corporations.
5. Analyze various types of computer tax software and relate the importance to the preparation of tax returns.
6. Identify basic tax concepts among most states and determine tax planning to reduce a corporation’s overall state tax burden.
7. Analyze the tax implications of alternative choices and communicate these findings.