Corporate Taxation

Introduction to the taxation of corporations and their shareholders, from formation of the corporation to liquidation. Builds on knowledge and skills acquired in the Federal Income Taxation course by examining the tax consequences of corporate events such as formation, capital contributions, distributions, redemptions, stock dividends, and liquidations. In addition, considers substance versus form questions in structuring corporate transactions, choice of business entity issues, the debt/equity distinction, tax shelters, and Congressional and administrative responses to taxpayer behavior. Class discussion focuses on problems designed to develop and test step-by-step understanding of corporate tax fundamentals. There is an examination at the end of the course.