The sale of a business is a major event for the owners. This course considers the comparative federal tax consequences of selling a business operated as a partnership entity or a corporation with or without making an S corporation election.
Learning Objectives
• Recall the basics of selling a business either as an asset sale or the sale of an ownership interest (partnership interest or stock)
• Identify and analyze tax planning ideas available related to asset sales for partnerships, sole proprietorships, for corporations making or not making the S corporation election
• Compare the federal tax differences related to selling the assets of a business that has been operated as a partnership, or corporation, with or without making the S corporation election
• Compare the f federal tax consequences of sales of partnership interests with stock sales for corporations making or not making the S election
Major Topics
• Basics of the federal taxation of partnerships, S corporations, corporations not making the S election
• Federal tax consequences of asset sales for partnerships or sole proprietorships
• Federal tax consequences of asset sales for corporations making or not making the S election
• Asset sales – comparison of federal income tax based on entity chosen
• Federal tax consequences of sales of partnership interests
• Federal tax consequences of stock sales for corporations making or not making the S election
• Sales of ownership interests – comparison of federal income tax based on entity chosen
• Section 754 elections
• Sections 338, 338(h)(10) and 336(e) elections
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