CHAPTER 17 CORPORATIONS: INTRODUCTION AND OPERATING RULES
LECTURE NOTES TAX TREATMENT OF VARIOUS BUSINESS FORMS 1. Business forms include: sole proprietorships, partnerships (covered in Chapter 21), trusts and estates (covered in Chapters 27), Subchapter
Tax Drill 17-3.2 Organizational expenses
LO.3 List and apply the tax rules unique to corporations.
Pankraz Corporation, a calendar year taxpayer, is formed on April 1, 2014. In connection with its
formation, it incurs organizational expenditures of $54,00
A parent-subsidiary group of corporations that is eligible to elect to file on a consolidated basis. Eighty
percent ownership of the voting power and value of all of the corporations must be achieved every day
of the tax
Family Financial Plan
Family Financial Plan.
Meg and Maynard need to establish an estate plan to accomplish their wishes. Their first
wish is to make sure that their children inherit all their properties afte