Webinar (CA): S Corporations: QSUB Elections

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 requirements necessary to successfully make the QSUB election.

Learning 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

Major Topics

• Requirements that must be satisfied to make the QSUB election.
• How to make the QSUB election.
• Immediate tax consequences of the election, “deemed liquidation.”
• Potential complications of “deemed IRC 332 liquidation.”
• Situations where the QSUB election 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

Provider
California CPA Education Foundation
Course Level
Overview
CPE Field of Study
Tax
1
Who Should Attend

CPAs and lawyers.

Instructor(s)
John McWilliams
Prerequisites

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

Advanced Preparation

This webinar is produced by CalCPA. You will receive your login link/instructions and Certificate of Attendance directly from this third-party vendor. It is important that you review your COCPA confirmation for details on receiving your login instructions and COA from said vendor.

Location
Webinar
Event Information
When
Jun 24, 2021
11:00 am - 12:00 pm MDT
Location
Webinar
Total CPE Credits
1
Format
Webinar

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$39.00

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$49.00
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Webinar (CA): S Corporations: QSUB Elections


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