Event Description

Corporate taxation can be complex—but understanding it is essential for practitioners who advise business clients. This course provides a focused, practical review of three key areas that frequently arise in corporate tax planning and compliance: corporate tax credits, stock redemptions and dispositions, and the Corporate Alternative Minimum Tax (CAMT). 

In this course, we will examine the major corporate tax credits available —including the general business credit and its components, as well as changes to tax credits due to recent tax legislation. We will also walk through the rules governing stock redemptions under IRC Section 302, including the requirements for substantially disproportionate redemptions, the treatment of redemptions as dividends versus capital transactions, and the federal excise tax on corporate stock buybacks under Section 4501. Finally, we will address the Corporate Alternative Minimum Tax, its applicability to corporations with adjusted financial statement income of $1 billion or more, and practical planning considerations. Through discussion and easy-to-follow examples, you will leave better equipped to advise corporate clients on these important and often-tested areas of the tax law.

Objectives

• Recognize tax credits applicable to corporations under current law, including components of the general business credit.
• State the requirements for a substantially disproportionate redemption under IRC Section 302(b).
• Identify the tax implications and reporting requirements of corporate stock acquisitions and redemptions.
• State when the Corporate Alternative Minimum Tax applies to corporations and how adjusted financial statement income is determined.