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22WC-1094: S Corporations: QSUB Elections (Webinar)

If you have questions about this event, please call us at 952-831-2707.

Date Friday, January 20, 2023
Time 12:00pm - 1:00pm
Central Time
Location Online
CPE credits CPE 1.0
Field(s)
of study
Taxes - Technical (1.0)
Fees
Standard Member Fee $39.00
Standard Nonmember Fee $49.00

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.

Who should take this program?

CPAs and lawyers.

Major subjects

  • 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 QSUBelection 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

Learning objective(s)

  • 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

Notes:

Course code Code 22WC-1094
Sponsor CalCPA Education Foundation
NASBA ID#: 104822
Level Overview
Format Group Internet Based
Prerequisites Prereq. Understanding the basics of the taxation of corporations, and S Corporations.
Advance
prep
None

If you have questions about this event, please call us at 952-831-2707.

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