Introduction

Overview

In this lesson, types of business organizations for tax purposes will be explained. Also, corporate and individual income tax, capital gains tax, tax credits, working capital and mining and petroleum project considerations will be reviewed.

Learning Objectives

At the successful completion of this lesson, students should:

• be able to calculate individual and corporate income tax;
• be familiar with individual and corporate capital gains tax treatment;
• demonstrate tax treatment of investment terminal (salvage) value;
• be familiar with state tax considerations; and
• distinguish between different types of tax credits.

What is due for Lesson 8?

This lesson will take us one week to complete. Please refer to the Course Syllabus for specific time frames and due dates. Specific directions for the assignment below can be found within this lesson.

Questions?

If you have any questions, please post them to our discussion forum, located under the Modules tab in Canvas. I will check that discussion forum daily to respond. While you are there, feel free to post your own responses if you, too, are able to help out a classmate.