Course: ACCT 441. Income Tax II (3)
Prerequisites: Grades of “C” or higher in ACCT 352 and ACCT 440; Upper Division Writing Proficiency Exam (UDWPE) score of 8 or higher. This course examines the federal taxation of business entities, including the following topics: tax credits; Alternative Minimum Tax (individual and corporate); accounting methods and periods; C corporations (organization, operations, distributions, redemptions, liquidations, and reorganizations); partnerships (formation, operation, basis, distributions, transfer of interest, and terminations); S corporations; and taxation of international transactions. The course emphasizes the development of tax research and tax planning skills, as well as tax compliance for business entities.