Webcast: S Corporations - QSUB Elections (XCSCSUB17)
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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 ). Consider the factors that determine whether this election should be made. Discuss topics covering both immediate and long-term tax consequences and the process necessary to make the election.

 Export to Your Calendar 12/11/2017
When: 12/11/2017
12:00 PM until 1:00 PM
Where: Webcast
CALCPA
4173333B
United States
Presenter: John G. McWilliams, CPA, JD


Online registration is closed.
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Acronym XCSCSUB17
CPE 1 hour
Vendor CalCPA
Category
Taxation
Level Overview
Prerequisite Understanding the basics of the taxation of corporations, S corporations and partnerships.
Adv Prep None
Yellow Book? No
Designed for CPAs and lawyers with at least two years of experience advising privately owned businesses.
Registration
Member $30
CPA Non-Member $50

The Member rate applies to LCPA members, other state society members, and non-CPA staff of LCPA members. To register online, use the ‘Register’ button above. To register by phone, call the LCPA Member Service Center at 800.288.5272 or 504.464.1040, Monday through Friday, 8am to 5pm.

Course Description

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 ). Consider the factors that determine whether this election should be made. Discuss topics covering both immediate and long-term tax consequences and the process necessary to make the election.

Materials are provided as an ebook for this course.

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.

Major Topics

  • Requirements that must be satisfied to make the QSUB election.
  • How to make the QSUB election.
  • Immediate tax consequences of 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.