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An Introduction to S Corporations

Exam Questions: 20
Course Level: Basic
Pages: 88 | Content: 82, Supplemental: 6
NASBA Area of Study: Taxes
Not Acceptable for: N/A
Version: 7770

S corporations are currently the largest business tax filer in the United States of America. This course covers the tax considerations in electing S corporation status, the advantages and disadvantages of S corporate taxation, the requirements to be an S corporation, and trusts that qualify as S corporation shareholders. PLEASE NOTE: This course material is a component of #7775: S Corporations - Part 1 , and therefore we recommend that you should not take both courses in the same CPE reporting period. All course material provided. No prerequisites. Course level: Basic.

EA Program Approval Number: ZX34G-T-00344-19-S

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Course Information

Table of Contents
  • Tax Considerations in Electing S Corporation Status
  • Requirements to Be an S Corporation
  • Trusts That Qualify as S Corporation Shareholders
Objectives
  • To identify tax considerations in electing S corporation status
  • To recognize statutory requirements to be an S Corporation
  • To recognize types of trusts that can be a shareholder of an S corporation

PLEASE NOTE: CPE credit measurement is based on NASBA Registry and QAS guidelines of one credit for every 50 minutes. Credit calculation may vary in different states — check with your State Board of Accountancy. Unless otherwise noted in the specific course description, no advanced preparation is required in order to register or complete any PES CPE course. Use of materials or services provided by Professional Education Services, LP ("PES") are governed by the Terms and Conditions stated on PES' website www.mypescpe.com. PES provides these courses with the understanding that it is not providing any accounting, legal, or other professional advice and assumes no liability whatsoever in connection with its use. PES has used diligent efforts to provide quality information and material to its customers, but does not warrant or guarantee the accuracy, timeliness, completeness, or currency of the information contained herein. Ultimately, the responsibility to comply with applicable legal requirements falls solely upon the individual licensee, not PES. PES encourages you to contact your state Board for the latest information and to confirm or clarify any questions or concerns you have regarding your duties or obligations as a licensed professional.