LAW 381 - Taxation of Partnerships and Limited Liability Companies (LLCs).

This course will examine the tax consequences of partnership/LLC formations, distributions, mergers, and liquidations, as well as the allocation of income and deductions generated by these entities. This course will take into account related Internal Revenue Code provisions such as the at-risk and passive activity loss rules. Lastly, this course will address partnership/LLC drafting issues in order to serve as a primer for “Business Planning.” Three hours. Hellwig Prerequisite: Federal Income Taxation of Individuals or may be taken concurrently.