Undergraduate Catalog 2019-2020

ACC 251 Federal Income Taxation II(RNL)

3 hours; 3 credits. A broad study of the federal income tax pertaining to corporations and partnerships. A comprehensive study of tax accounting principles as applied to corporations and partnerships, corporate organization and reorganizations, corporate liquidations, corporate distributions, and special classes of corporations. Includes such areas as special deductions and computation of the normal tax, surtax, and tax on net long-term capital gains. Prerequisite: ACC 241.