This course teaches students the rules that apply to S corporations, partnerships, RICs, REITs and other pass-through entities and how those entities are used, both domestically and internationally. The course will also consider the tax policy issues that pass-through entities raise. The questions are broad (e.g., Why do we have so many pass-through entities? Why do the rules for each differ? What are the issues for different classes of investors? Is simplification possible?) and narrow (e.g., How is entity-level tax eliminated in the case of a RIC? In the case of a REMIC? In the case of an S corporation?)

This upper-level, substantive course focuses on the laws, regulations, and policies that apply to business pass-through entities. The course will consist largely of lectures but with active participation by students. This course is also approved for students in the Graduate Tax Program.

Open to Tax LL.M. students.

Recommended for the Following Professional Pathways: Corporate Transactions and Governance; International Business; Real Estate and Land Use; Tax

Prerequisite: Federal Income Tax: Individual

2 Credits