Welcome to Module 14

This week we cover the last chapter of the text and the subject is Corporate Taxation. Rather than my providing my own interpretation of the definition of Corporate Taxation and its relationship to other modes of taxation I feel the "Introduction" found on the first page of Chapter 15 does a nice job of summary and reference to the other forms of taxation.

You by now have gained a good knowledge of the composition of a corporation, how it is formed and the benefits of incorporation. I will caution you not to assume that the use of a C corporation or an S corporation are always the best solutions for forming a business. Your education in fundamentals of business, taxation, accounting at the very least should broaden your knowledge base that their are many considerations to be made. While taxation is an important consideration it should not be the sole determinant of your decision.

Module Learning Outcomes

Upon successful completion of this module, you will be able to:

L O 1. Describe corporate formation and filing requirements.

L O 2. Calculate corporate and shareholder basis.

L O 3. Determine corporate taxable income and tax liability.

L O 4. Explain the tax rules for transactions with shareholders.

L O 5. Prepare Schedules L, M-1, and M-3.

L O 6. Discuss other corporate issues.

L O 7. Know the rules for tax treatment of Subchapter S corporations.

(LO = Learning Outcome)

To Do

Please read/watch all of the module learning materials (readings, presentations, videos, etc.) and complete all assignments/assessments listed below. If you have questions, please contact the course instructor or ask in the Questions About This Course forum.

Readings and Presentations:

Chapter 15 of Text - "Corporate Taxation".
Review PowerPoint - Cruz_17e_Ch015_PPT_Accessible.pptx

Assignments/Assessments:

See "Assignments"

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