(LAWN-4098) - 6 UNITS

This course combines the materials of Partnership Taxation I & II and Corporate Taxation I & II in a single six-unit offering. Partnership taxation topics covered include the classification, formation, operations, distributions, disposition of partnership interests, partnership terminations, the drafting of partnership agreements, allocations, related-party transactions, the hot asset rules, problems arising out of the death or retirement of a partner, partnership level audits, and international partnerships. Corporate taxation topics covered include formation, capital structure, nonliquidating distributions, redemptions, liquidations, Subchapter S, stock dividends, the dividends-received deduction, and advanced issues in redemptions and liquidations.

Open only to students in the Tax LLM or Joint JD/Tax LLM program. No JD credit awarded. Only offered as part of the Tax LLM Intensive Summer Session. Credit for subsumed courses (Partnership I, Partnership II, Corporate I, Corporate II) cannot be awarded towards the Tax LLM degree in addition to credit for this course.

Tax LLM Course