This course covers the basic federal tax considerations relevant to entity choice (the choice of an entity to be a sole proprietorship, passthrough entity (including LLC, partnership), or corporation. It introduces students to the passthrough regime of partnerships and LLCs and the double tax regime of C-Corporations. Then it covers the tax rules applicable to the lifecycle of a C-Corporation, including the tax implications on C-Corporations and their shareholders of corporate formation, corporate earnings, corporate spending, corporate operations, dividends, redemptions, stock sales, and corporate dissolution. P - LAW 206 Taxation: Federal Income.