S Corporations: QSUB Elections

Course Details

Date

Tuesday, November 5, 2019

6:30am – 7:30am
(Registration: 6:00am)

Field of Study

Taxation

Course Number

4193333B

CPE Credit

1 hour CPE credit

Level of Knowledge

Overview

Vendor

CalCPA Education Foundation

Prerequisites

Understanding the basics of the taxation of corporations, S corporations and partnerships.

Description

Consider the factors that determine whether a QSUB election should be made. Discuss topics covering both immediate and long-term tax consequences and the process necessary to make the election.

If an S corporation owns 100% of the stock of another corporation, the tax consequences of the operation of the subsidiary will depend on whether the S corporation makes a 'qualified subchapter S subsidiary election' (QSUB election). This course will examine the tax compliance requirements necessary to successfully make the QSUB election.

Materials are provided as an ebook for this course.

Highlights

  • Requirements that must be satisfied to make the QSUB election.
  • How to make the QSUB election.
  • Immediate tax consequences of election, "deemed liquidation."
  • Potential complications of "deemed IRC 332 liquidation."
  • Situations where the QSUB election could be desirable.
  • Situations where the QSUB election could be undesirable.
  • Longer term consequences of the decision to elect or not elect.

Objectives

  • Recognize the immediate and long term tax consequences of making or not making a QSUB election.
  • Identify situations where the QSUB election can be made.
  • Analyze the result of the "deemed liquidation" including unusual facts which can create complications.
  • Discuss situations where the election could be desirable or undesirable.
  • Explain the tax compliance requirements necessary to successfully make the QSUB election.

Designed For

CPAs and lawyers.

Course Pricing

Member Fee

Applicable if you are a HSCPA member in good standing.

$30.00
Non-Member Fee

Applicable if you are not a HSCPA member.

$50.00
Your Price $50.00

CPE Choice

Learn more about CPE Choice.
This course does not qualify for CPE Choice.

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