A corporation is generally a business organization that has been formed under the corporation statutes of a state or of the federal government. Taxable income of corporations is determined in much the same way as the taxable income of individuals.

However, some restrictions are imposed to limit the tax benefits that may be available to officers or executives. This course reviews the classification, organization and tax treatment of corporations.

Topics include:

• Classification rules of corporations;
• Organizing the corporation;
• Computing tax liability;
• Estimated tax; and
• Special rules.