ACCT 421 - Taxation II

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A comprehensive study of the legal and tax characteristics of business entity taxation. Students compare and evaluate the tax implications of various business entities (sole-proprietor, partnership, limited liability entities, corporations, and s-corporations). Determination of income or loss, the result of property transactions, related party transactions, self-employment income, net investment tax, corporate book-tax differences, and analyzing the impact of additional and broad entity specific tax regulations. Prerequisite(s): ACCT 420.