Project Milestone 1: Company Selection & Tax Profile

Course Description:

Analyzes and distinguishes between the studies of federal taxation as it applies to sole proprietorships, partnerships and corporations, including the tax implications and/or consequences of forming, operating, liquidating, and reorganizing such entities. The complex topics of financial tax accounting concepts (e.g., cash and accrual methods of tax accounting, time value of money effects, deferred tax assets/liabilities, permanent/temporary differences, net operating loss carryforwards/carrybacks, etc.), employee compensation, related party transactions, shareholder taxation, and tax planning are also addressed.

Assignment Instructions:

Select a publicly traded corporation (preferably one with complex operations: C corp with subsidiaries, international presence, or significant deferred tax balances). Submit a 1-2 page profile including:

• Company name, industry, and brief business description.
• Summary of the most recent year’s income tax footnote (current and deferred tax expense, ETR (effective tax rate), major deferred tax items).
• 2-3 preliminary observations about the company’s tax position.