Studies federal income taxation related to taxable corporations, the entities through which a large part of the economic activity in the U.S. is conducted. Includes creation, operation, distributions, sale of interests, and liquidation. Prereq., ACCT 5440 or instructor consent. Coreqs., ACCT 6420 and 6700. Same as LAWS 6157. Prerequisites: Restricted to Business Administration, Accounting, Accounting-Taxation, Accounting-Information Systems, Mgt Sci-Information Systems, Finance, Marketing or Master of Business Admin graduate students only.