ACT 412: Advanced Taxation

Prerequisite: ACT 212 and at least Junior standing; Business majors only or by permission of the appropriate department chairperson

Introduction to fundamental concepts related to business entity taxation in the United States of America. The course will give students a foundation of income taxation of business entities with a focus on corporations and partnerships. Students will understand the entity tax formula, book-tax differences, nontaxable exchanges, tax paying vs pass through entities and state income tax and sales tax nexus.