S Corporations: QSUB Elections Webcast | 4203333A

Course Details

Date

Thursday, July 16, 2020

7:00am – 8:00am
(Registration: 6:30am)

Field of Study

Taxation

Course Number

4203333A

CPE Credit

1 hour CPE credit

Level of Knowledge

Overview

Vendor

CalCPA Education Foundation

Prerequisites

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

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). We'll examine the tax compliance requirementsnecessary to successfully make the QSUB election.

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 QSUBelection could be desirable.
Situations where the QSUB election could be undesirable.
Longer term consequences of the decision to elect or not elect.
Terminations of QSUB election

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.
Understand tax consequences of termination of QSUB election

Designed For




CPAs and lawyers.

Course Pricing

Member Fee

Applicable if you are a HSCPA member in good standing.

$37.00
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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