S corporation requirements S corporation election Termination of S election Iax year Ordinary income/loss and separately stated items Special S corporation taxes

SPECIAL PARTNERSHIP ISSUES (1 of 2) Nonliquidating distributions 8751 assets Liquidating distributions Sale of partnership interest Retirement or death of a partner Termination of a partnership

PARTNERSHIP FORMATION & OPERATION(of2) Partnership definitions Overview of partnership taxation Contributions of Property Partnership elections Ordinary income/loss vs. separately stated items Partners' distributive share of items

CONSOLIDATIONS (1of2) Affiliated groups Advantages disadvantages of consolidating Consolidated taxable income Consolidated regular tax liability Consolidated AMT liability

CORP ACQUISITIONS REORGANIZATIONS (1 of 2) Taxable acquisition transactions Taxable vs.tax -free- acquisitions Tax consequences of reorganizations Acquisitive reorganizations Devisive reorganizations

LIQUIDATING DISTRIBUTIONS Complete liquidation vs. dissolution Effects of liquidation on shareholders Effects of liquidation on liquidating corporation Liquidation of a controlled subsidiary Special shareholder issues Debt retirement

OTHER CORPORATE TAX LEVIES Alternative minimum tax(AMT) Personal holding company(PHC)tax Accumulated Earnings Tax(AET)

NON-LIQUIDATING DISTRIBUTIONS (1 of 2) Nn- liquidating distributions in general Computing current&p Current vs. accumulated&p Non- liquidating property distributions Constructive dividends

THE CORPORATE Tax years Accounting methods Taxable income tax liability Controlled groups Compensation planning Filing requirements

CORPORATE FORMATION Alternative business forms Check-box-the- requlations Legal requirements for forming a corporation 351 deferrals Choice of capital structure Worthless stock or debt obligations