Nov 30, 2023  
2023-2024 Cal State East Bay Catalog 
2023-2024 Cal State East Bay Catalog
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ACCT 431 - Federal Taxation of Business Entities

Units: 3
A survey of federal income tax laws and regulations for businesses and other entities under the U.S. Federal Tax System. Topics include tax computation and reporting of C Corporations, S Corporations, Partnerships, Trusts, Estates, and Tax-exempt organizations.

Prerequisites: ACCT 312 and ACCT 331, both with grade C or better. 
Possible Instructional Methods: On-ground or Online-Asynchronous.
Grading: A-F grading only.
Student Learning Outcomes - Upon successful completion of this course students will be able to:
  1. Analyze transactions of C corporations in areas such as stock dividends and stock redemption;
  2. Calculate taxable income and tax liability for a C corporation;
  3. Determine ordinary business income (loss) for a partnership for federal income tax purposes;
  4. Calculate ordinary business income (loss) for an S corporation for federal income tax purposes;
  5. Demonstrate the amount of taxable gifts for federal gift tax purposes;
  6. Calculate the taxable estate for federal estate tax purposes;
  7. Determine the beneficiary’s share of taxable income from a trust for federal income tax purposes;
  8. Demonstrate the amount of unrelated business income tax of an exempt organization.

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