TAX 611 - Federal Corporate Taxation and the Law of Business Entities

3 Credit(s)

This course helps students learn how to assess the legal and tax risks and benefits of using different business forms. They will learn how clients can incorporate their businesses without generating an income tax to the transferors. Students will be able to recommend strategies for minimizing the effects of double corporate taxation on the corporation and its shareholders. They will be able to identify the circumstances when it is preferable to sell corporate stock rather than the underlying assets of the corporation. In addition, students become acquainted with contract and tort law exposures and legal risks created when the client is a co-owner or a minority owner of a private business entity. Students are well-positioned to advise clients as to how their businesses can preserve the corporate veil of limited liability. Also, they will be able to help clients understand why corporate shareholders’ agreements and/or other governing legal documents are so important and how buy-sell agreements can be used to address the problems of owner disputes. Students learn how to integrate multiple areas in addressing client issues. This is a required class for MSTFP students.
Prerequisite(s): None