First class assignment for Taxation: Corp. & Shareholders, Fall 2017
Prof. Rosenberg, Tues., Wed., and Thurs., 12:30-1:30pm, Blake Alcove in the Library
Textbook: Stephen Schwarz and Daniel Lathrope, Fundamentals of Corporate Taxation (Foundation Press, 9th Edition) (“textbook”).
“Code” or “Internal Revenue Code” means the Internal Revenue Code of 1986, 26 U.S.C.
“Reg.” or “Treas. Reg.” means the Treasury Regulations
Note: The assigned reading includes portions of the Internal Revenue Code of 1986 (the “Code”) and the accompanying Treasury Regulations (“Treas. Reg.” or similar abbreviations). You can use the hard copy volume of Code and Treas. Reg. sections listed in the course materials under “optional,” or you can use another printed version of the Code and Treas. Regs., or you can obtain the Code and Treas. Reg. sections online for free – just do an online search for the section number and either “Internal Revenue Code” or “Treasury Regulation” (e.g. “Treas. Reg. 1.61-2” or “section 11 Internal Revenue Code”).
In other words, the assigned reading of the Code and Treas. Reg. sections is mandatory. But you can choose where to get those sections, e.g. by using the hard copy or by getting them online or elsewhere.
Class 1: Introduction to corporate tax: overview of the taxation of corporations and shareholders
Internal Revenue Code section 1(h)(11)(A), (B), section 11, section 7701(a)(3)
Textbook: Chapter 1 Part A, Part B1 (skip the discussion of the Domestic Production Activities deduction, p 21-22), and skim problem on page 31 (we’ll use it in class to illustrate some concepts – no need to solve it ahead of time.)
Class 2: How to tell if we have a corporation for tax purposes: the check-the-box rules
Textbook: Chapter 1 Part C
Treas. Reg. 301.7701-2(a), (b)(1)-(7), (c)(1), (c)(2)(i); section 301.7701-3(a), (b), (c), (g)(1), (g)(2)(i) (these are portions of the "check-the-box" regulations)