Partnership and Passthrough Taxation

This course provides an in-depth overview of the federal income taxation applicable to partnerships and their partners and S Corporations. It encompasses taxation for limited partnerships, limited liability partnerships, and limited liability companies, all of which are treated as partnerships for tax purposes and S Corporations, which are subject to a separate passthrough tax regime. A solid grasp of the taxation of these commonly used business entities is essential in the field of business law. Topics include entity classification and formation, as well as the distribution of partnership income and deductions among partners. The course will also address the complexities associated with the acquisition and transfer of partnership interests and the allocation of partnership liabilities.